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French unemployment stable, but still above 10%

French unemployment stable, but still above 10%
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The unemployment rate in France was stable in the first three months of this year, though remained at 10.1 percent of the workforce.

The rate, measured according to International Labour Organisation criteria, was the lowest since the fourth quarter of 2012.

It had been rising for two years and hit 10.3 percent in the middle of last year – the highest level since 1998.

The Paris government plans to spend 500 million euros this year to create 45,000 subsidised jobs for young people lacking professional qualifications.

France will also receive 620 million euros from the European Union to combat youth unemployment.

Further declines in unemployment could bring a much-needed boost to President Hollande, whose approval ratings have slumped partly due to frustration over the state of the French economy.