French jobless rate hits 10.8 per cent and expected to keep on climbing

French joblessness has risen to 10.8 per cent according to INSEE. The ILO unemployment rate shows the first quarter jump was smaller than economists expected, as analysts predicted a rise to 10.9 per cent.

In the previous quarter the ILO unemployment rate stood at 10.5 per cent, and forecasters expect this to rise further. A Reuters poll of 12 French and international economists finds that unemployment is expected to hit 11.5 per cent in the fourth quarter of 2013.