Thursday, December 06, 2012 1:49 am
French unemployment edges up to 10.3 percent in Q3
The Associated Press
The national statistics agency Insee also said Thursday that youth unemployment jumped more than a percentage point in the quarter to 24.9 percent. The national rate was up from 10.2 percent in the second quarter.
Hit by concerns about their overwhelming debt amid a slowing global economy, countries across Europe are struggling with high unemployment rates that have caused unrest in many parts of the continent. While France has avoided the worst of the crisis thus far, its high and rising unemployment rate indicates its economy is also in trouble.
French unemployment has been climbing steadily since last year after dropping for a few quarters. It is now higher than at any time since 1999.