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French jobless rate soars highest since 1999

French jobless rate soars highest since 1999

PanARMENIAN.Net - The number of jobless people in France rose for the eleventh-month running in March to hit the highest level since September 1999, Reuters reported.

The labor ministry data released on Thursday, April 26 showed the number of registered jobseekers in mainland France rose by 16,600 in March to 2.88 million, up 0.6 percent on the month and 7.2 percent on the year.

The increase was the latest reminder of how weak the labor market remains in the euro zone's second-biggest economy ahead of a May 6 presidential election.

The monthly labor ministry data is the most frequently reported domestic jobs indicator for France, although it is not prepared according to widely used International Labour Organisation (ILO) standards nor expressed as an unemployment rate of number of job seekers compared to the total work force.

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