France’s unemployment rate rose to 16.7% in April, the highest since June 2009, with the number of unemployed at 20.5% of the total labor force.
The unemployment rate is now at a record high in France, the country’s second-highest in the euro area after Spain, according to Eurostat.
“This is the worst level of unemployment in our history,” President Francois Hollande said at a televised news conference.
“We are at the level we have never seen before.”
The official unemployment rate in France was 8.9% in March, according the French Bureau of Statistics.
The official rate is also calculated using different methods, and the actual unemployment rate for April was 16.9%.
The French economy has suffered from the global economic crisis and the economic downturn in the Eurozone, but the labor force is still showing signs of growth.
Hollande’s popularity ratings in France have continued to rise.
His approval rating has increased by 6 points in April.
The president has been in office since January 2015.
France has a large labor force and the economy is recovering from the economic crisis.
The labor force participation rate, the number who are working or looking for work, reached a record low in April of 10.6% as part of the labor market recovery.
Unemployment has been high since 2011, when the French economy contracted for the first time in decades.
In 2016, the economy contracted by 0.9%, and in 2017 by 1.2%.
According to the Labor Department, France’s labor force was down by 1 million workers from April to May.
“France has one of the highest unemployment rates in Europe, which is also the lowest unemployment in the EU,” said Paul Van de Graaf, chief economist for the French Chamber of Commerce.
“The labor force continues to shrink at the same time as productivity growth in France continues to slow.”
Unemployment in the eurozone fell by 8,000 people in April to 16% from 16.2% in May.
It’s estimated that the labor sector in the entire eurozone will shrink by 1% this year.
The European Union is experiencing a slow recovery and the unemployment rate has been steadily increasing since the financial crisis began.
Unemployment in Germany is the second-lowest in the European Union after Greece.
In April, unemployment in Germany fell to 7.9%; the unemployment was 10.4% in Greece in April and 11.2 in Spain in April 2018.
“Since the start of the crisis, we have seen an unprecedented drop in the unemployment,” said Andreas Schubert, head of research at the Institute for Economic Research in Berlin.
“It is now approaching 10% in many countries, and in some cases even more, with Germany, Germany is now the largest country in the bloc that has reduced unemployment.”
The European Central Bank recently announced that it will begin buying bonds in the first half of 2019 to help boost the economy, and that it plans to expand its purchases of long-term government debt.
The ECB has also raised its benchmark interest rate to 1.75%, the highest in six years.