Latest unemployment data from France reveal the country is suffering from its worst joblessness situation in nearly 20 years, as its quarterly rate hit 10.6%. In contrast to the euro zone, where unemployment levels are slowly declining, France's has been rising and picking up pace. France's level of unemployment exceeded the overall euro zone equivalent for the first time in eight years; a poor indictment of France's economic health. In metropolitan France only, the number of unemployed has risen by 75,000 to 2.9m. The French government said on Friday that it would cut public spending by €1 billion ($A1.15 billion) over two years because of an expected drop in tax revenue.
Latest unemployment data from France reveal the country is suffering from its worst joblessness situation in nearly 20 years, as its quarterly rate hit 10.6%. In contrast to the euro zone, where unemployment levels are slowly declining, France's has been rising and picking up pace. France's level of unemployment exceeded the overall euro zone equivalent for the first time in eight years; a poor indictment of France's economic health. The French government said on Friday that it would cut public spending by €1 billion ($A1.15 billion) over two years because of an expected drop in tax revenue.