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French Unemployment Rate

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Editor’s Remarks:
In case we want to change the chart: French unemployment rate is set to decline by 1.5% by the end of the decade, from 2016’s IMF estimated 9.84% to 8.69% in 2020. The rate stood at 9.7% in October, more than double the rates for the Czech Republic and Germany, which had the lowest unemployment in the eurozone. France was, however, well below Spain and Greece, the most troubled countries in the EU, which saw unemployment rates of 19.2% and 23.4%, respectively, in October. The French rate is about average for the eurozone, where the unemployment rate is approximately 9.8%. France is set to see some turbulence this year, with presidential elections due this spring and the populist movement led by right-wing politician Marine Le Pen on the rise. French unions struck a victory last week, with employees gaining even more rights from their employers. However, the lax French labour legislation which includes a 35-hour working week and employees being allowed to ignore after-hours company communications might deter firms from investing in France, striking a further blow to the country’s already sluggish economy.

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