posted at 00:50
Author Name: Mike Bird
Frances Unemployment Rate Just Climbed Back To Record Levels
French unemployment hit 10.4% in the third quarter of the year. That puts the rate back at its mid-2013 levels, wiping out a year's modest progress in cutting jobless numbers. It's an eye-watering situation for France: though it's not the hardest hit-country in Europe, while the UK and US unemployment rates have descended significantly, France's is stubbornly high. The US rate has dropped from nearly 10% at the end of 2009 to below 6%, while France has seen unemployment rise by about one percentage point over the same period. According to recent business surveys, there's not much joy on the horizon: France's PMI came in at a nine-month low yesterday, suggesting the economy is in a mild recession.

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