France jobless rate continues to rise

The ministry said on Tuesday that the number of registered jobseekers in the eurozone’s second-largest economy increased by 6,300 people from June, despite returning to economic growth in the first half of the year.

Giving an upbeat analysis of the Tuesday data, French prime minister said that the hike of unemployment had slowed in July to a 0.2 percent rise from the previous month and 10 percent year-on-year.

The data was “an encouragement to keep to the road chosen,” Jean-Marc Ayrault said.

France’s right-wing opposition as well as trade unions dismissed the premier’s comments, accusing the government of creating subsidized state jobs to beef up the data.

The UMP party of former President Nicolas Sarkozy dismissed the data as a cynical “statistic manipulation”, while the leftist union CGT urged the government to “abandon false remedies”.

The revelation is another setback for the Socialist President Francois Hollande’s government, which is convinced that the jobless rate will decrease over at least two months before the end of this year.

France is one of a few rich-world economies with a double-digit unemployment rate, others being eurozone members Spain and Italy, along with South Africa.

In an attempt to lower the country’s huge debt load, Hollande’s government has increased taxes and implemented several reforms and spending cuts; however, the measures have proven unproductive since the financial crisis in the eurozone has not been resolved and the 17-member bloc is still bogged down in recession.

PG/AS

Source Article from http://www.presstv.ir/detail/2013/08/27/320809/france-jobless-rate-continues-to-rise/

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