French Unemployed Number Resumes Rise

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The FINANCIAL — The number of registered jobseekers in France rose in August, reversing a slight decline in July and setting a fresh record high, data from the Labor ministry showed on September 24, according to Nasdaq.

The number of “category A” job seekers–defined as registered job seekers who are fully unemployed–rose by 20,000 in August to reach 3,571,600. That marked a 0.6% rise from July and a 4.6% rise from August 2014.

The increase in the number of job seekers reflects the uncertainty of the economic recovery in France. Gross domestic product growth jumped in the first quarter, but stagnated in the second, and the government expects only 1% growth for the whole of 2015.

President Francois Hollande has said unemployment won’t start falling until the economy is growing at a rate of at least 1.5%.

 

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