French unemployment hits new record

[unhappycamper]

http://www.france24.com/en/20160324-french-unemployment-hits-new-record

French unemployment hits new record
Latest update : 2016-03-25

France’s unemployment rate rose 1.1 percent in the month of February, pushing jobless numbers to a record 3.591 million people, the Labour Ministry said Thursday.

The monthly spike is the sharpest since September 2013 and follows a slight dip in January that had raised hopes of an end to years of surging unemployment.

It comes as students and trade unions staged new protests in cities across France on Thursday against government plans to reform the labour market.

France’s Socialist government says the reform will help create jobs by introducing greater flexibility in the labour market.

[rjsquirrel]

1. Yeah I don't think the answer

will turn out to be even more socialism.


Socializing wealth is good when there's wealth to socialize. French socialism protects certain classes of (mostly white, mostly older, mostly very unproductive) workers at everyone else's expense. What they need, ironically, is a little dose of free market capitalism.

[Surya Gayatri]

2. Very well said...

"French socialism protects certain classes of (mostly white, mostly older, mostly very unproductive) workers at everyone else's expense."

Structural labor market rigidity is a MAJOR problem. Hiring (and firing) are stuck in neutral here.

I'm just glad I'm now out of the rough & tumble reality of job-searching here.

There are going to have to be some profound changes, if France doesn't want to lose a whole generation to joblessness and under-employment.