French jobless total hit new record high in January

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French jobless total hit new record high in January

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The number of people out of work in France rose again in January in the face of a weak recovery in the eurozone’s second-biggest economy.

The jobless total was up by a further 8,900 last month, hitting a new record

That is not good news for President Francois Hollande who has been promising to cut unemployment.

At just over 3.3 million, the total is up 0.3 percent up from the previous month and is 4.4 percent higher than January last year.

Hollande’s popularity has plummeted to record lows as he failed to come good on a pledge to reduce unemployment by the end of last year.

That was despite the French government spending at least two billion euros on subsidised jobs

Hollande acknowledges more needs to be done to get French companies hiring.

He recently offered to phase out 30 billion euros in payroll charges that companies currently pay, in exchange for them committing to job creation targets.