PARIS (MNI) – France’s August jobless number, to be reported later
Wednesday, will likely surpass the psychological threshold of 3 million
unemployed, Labor Minister Michel Sapin said today.
“It’s bad. It’s definitely bad,” Sapin told the French television
station France 2, according to Les Echos. “I’ve been saying over the
course of the past weeks that at the pace seen over the summer, I
certainly expect that we will pass the 3 million figure in France.”
The number of registered unemployed people seeking full-time jobs
rose by 41,300 in July, the steepest jump in nearly three years. It
boosted the jobless number to 2.987 million, the highest level in 14
years.
The figure for August, which will be published at 16h00 GMT/12h00
ET today, is expected to rise for the 16th consecutive month.
–Paris newsroom, +331-42-71-55-40; bwolfson@marketnews.com
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