At Least You're Not In France -- Unemployment Spikes 25% Year Over Year

nicolas sarkozy gordon brown

French headline unemployment jumped 52,400 in October to 2.627 million, which amounts to a 2% rise over November and a shocking 25% year over year increase. 

Workers over 50 and under 25 have been hit particularly hard. Yet apparenlt it appears difficult to know what exactly the unemployment rate is right now.

Reuters: France’s jobless data is not prepared according to the widely used International Labour Organisation standards and does not include an unemployment rate. However, it is politically significant because it is the mostly widely reported domestic jobs indicator.

Given France’s roughly 26 million-strong working population, unemployment is likely above 10%. Trading Economics puts it 10%.


NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at