Arab Today, arab today record unemployment hits sarkozy\s reelection hopes
Last Updated : GMT 15:29:56
Arab Today, arab today
Arab Today, arab today

Record unemployment hits Sarkozy\'s re-election hopes

Arab Today, arab today

Arab Today, arab today Record unemployment hits Sarkozy\'s re-election hopes

Paris - AFP

Figures released on Monday showed France\'s unemployment rate has reached a 12-year high. The data may hamper President Nicolas Sarkozy\'s re-election prospects, a few months ahead of a run-off that is likely to focus on France\'s sagging economy. French President Nicolas Sarkozy\'s re-election hopes have been hit by new figures showing unemployment at a 12-year high amid an austerity drive that leaves him little room to manoeuvre. The figures issued on Monday showed the number of registered jobseekers in France rising by 29,900 in November to reach 2.84 million, the highest level since November 1999. Before his election in 2007, Sarkozy vowed to lower joblessness to five percent, but the unemployment level hit 9.3 percent in the third quarter of this year and is on track to surpass 10 percent. \"We\'re expecting a quite catastrophic 2012 and expect to finish the year with an unemployment rate of around 10.7 percent,\" economist Henri Sterdyniak of the French Economic Observatory told AFP. The news could hardly be worse for Sarkozy, who is facing a tough battle for re-election in April against Socialist frontrunner Francois Hollande with the economy expected to take centre stage. Sarkozy, who is expected to formally announce his candidacy in February, called a summit of unions and business chiefs on January 18 in a bid to tackle unemployment. But his options are limited. Keen to maintain its cherished triple-A credit rating, the French government has vowed a series of austerity measures, including the announcement last month of 65 billion euros ($85 billion) in savings by 2016, on top of a 12-billion-euro deficit-cutting package announced in August. The government has said it needs to make 100 billion euros in savings to balance the budget by 2016. So unlike during the 2007-2008 financial crisis -- when Sarkozy\'s government introduced a 26-billion-euro stimulus package aimed at fostering growth -- this time there has been no mention of state support for the economy. Reacting to the unemployment figures on Tuesday, Labour Minister Xavier Bertrand said government efforts would focus on a \"competitiveness-employment pact\" aimed at boosting labour flexibility to curtail job losses. Bertrand also sought to minimise the political fallout from the unemployment figures, saying the eurozone debt crisis was to blame and not government policies. \"When economic figures are not good, employment figures can also not be good,\" he said on RTL radio. \"Unemployment is not just a French problem. Only Germany has seen its unemployment recede, because they have been making fundamental reforms to the labour market for 10 years,\" Bertrand said. \"We have been undertaking reforms for only a few years,\" he said. But Sarkozy\'s opponents have pounced on the unemployment figures as ammunition against his economic record. \"Nicolas Sarkozy\'s balance sheet is a million more jobseekers during one mandate!,\" said Socialist lawmaker Alain Vidalies, the party\'s labour critic. \"The government is following a policy that can only lead to an increase in jobseekers and economic lethargy.\" Opinion polls have consistently shown Hollande leading over Sarkozy in the race. France will vote in the first round of the presidential election in April and potentially a second round in May, followed by parliamentary elections in June.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today record unemployment hits sarkozy\s reelection hopes Arab Today, arab today record unemployment hits sarkozy\s reelection hopes

 



Arab Today, arab today
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday