French president François Hollande’s woes deepened today as unemployment hit its highest level for more than 16 years.
President Hollande is struggling to live up to a pledge to get unemployment firmly on a downward trend by year end. But the jobless rate edged up to 10.9 per cent in the three months to September from 10.8 per cent in the previous quarter.
The latest blow for the unpopular Hollande comes just weeks after official figures showed the eurozone’s second-biggest economy slipping back into reverse in the quarter to September.
Job losses are dominating headlines in France and concerns about unemployment are weighing on consumer confidence, according to the latest survey data.