France unemployment rises 26K to 3.424M in July

Nathan Andrada – Fourth Estate Cooperative Contributor

Paris, France (4E) – The unemployment rate in France reached a new record level in July, according to government data released Wednesday.

The number of unemployed people in the country climbed 0.8 percent in July from the prior month, in another huge blow for President Francois Hollande, currently under fire from the French people, and even his political allies, for his handling of the country’s economic troubles.

The number of people out of work rose by 26,000 to a total of 3.424 million, the country’s labor ministry said. The increase was the ninth straight month of gain in the monthly unemployment numbers.

In the past several days, Mr. Hollande’s policies have come under intense criticism from within his own political camp. His plans include sharp spending cuts by the government and tax increases for households and businesses.

Growth has remained flat in the first six months of 2014 and Mr. Hollande has failed to deliver to his promise to bring down unemployment in the euro area’s second-largest economy.

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