French Jobless Rate Highest In 5 Years

(RTTNews) - France's unemployment rate rose to the highest level in five years in the first quarter, data from the statistical office INSEE showed Wednesday.

The ILO jobless rate unexpectedly rose to 8.1 percent in the first quarter, marking the highest since the first quarter of 2021. The unemployment rate was expected to edge down to 7.8 percent from 7.9 percent in the fourth quarter.

The number of unemployed increased 68,000 to 2.6 million in the first quarter.

Data showed that unemployment rate among young people aged between 15 and 24 years declined in the first quarter but remained at an elevated level. The jobless rate dropped to 21.1 percent from 21.5 percent in the preceding period.