French unemployment has risen to 10.6 per cent in the third quarter – higher than forecast and the first time it has been higher than the Eurozone average since 2007. Unemployment had been expected to come in at 10.4 per cent, but figures from the National Institute of Statistics and Economic Studies (Insee) showed worse-than-expected data for metropolitan France and overseas departments. The number of jobless in France is now at a 20-year high. In metropolitan France only, the number of unemployed has risen by 75,000 to 2.9m. It increased across all age groups, but younger people were worst affected. The news will present a major headache for incumbent President Francois Hollande, who is planning to pin his re-election hopes on financial security and job growth.
Latest unemployment data from France reveal the country is suffering from its worst joblessness situation in nearly 20 years , as its eight years 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 quarterly ; a poor indictment of France 's economic health. While it suffered a less severe recession than other euro zone members, following the financial crisis, UK has failed to keep pace in making a meaningful recovery, and has been surpassed by Germany and the France , with both suffered more severe economic downturns.