Unemployment hits 10% in France

According to the French National Institute for Statistics and Economic Studies (Institut National de la Statistique et des Études Économiques or INSEE), France’s unemployment rate is skyrocketing and nearly three million French people are looking for a job.

French households are struggling to make ends meet, and new trends are emerging, with temporary jobs on the rise because full-time jobs are becoming scarcer.

“In France, the temp industry is growing now because we have problems with unemployment, as in many countries in Europe, and temping is, of course, a good way to find a job. 25 percent of the people have chosen to be temps,” Francois Roux of the Prisme Employment Agency said.

However, France has always had a high rate of unemployment, making it one of the biggest challenges for the country’s new president, Francois Hollande.

In his election campaign, Hollande promised to create thousands of state sector jobs and to lighten up the country’s austerity measures.

Pundits say that subsidies, or alternatively, reductions in social security contributions targeted at low-skilled youth and smaller firms could help the efforts to boost employment.

Europe was hit by a serious financial crisis in 2008 and the situation has intensified over the past few months.

GMA/HGL

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