|French Unemployment Strikes Record High|
|by Tom McGregor||Mon, Jan 27, 2014, 08:39 PM|
What happens when a government imposes a 75% income tax rate on its citizens? Well, that boosts unemployment rates. The French economy continues to head towards a freefall.
According to the BBC News, "French unemployment has hit a record high with more than 3.3 million people now registered as out of work. In December, 10,200 more people were listed as jobless, breaking President Francois Hollande's promise joblessness would fall by the year end."
French President Francois Hollande is struggling with record low popularity ratings in the country.
As reported by the BBC, "The French unemployment rate is now 11.1%. It went up by 5.7% in 2013, and rose 0.3% in December. In Ankara, Turkey, Mr Hollande said ahead of the release: "Stabilisation, which we have achieved, is not enough."
Apparently, only the French government has been hiring workers amidst dire economic circumstances.
To read the entire article from the BBC News, link here:
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