French Unemployment Jumps Above 8% for First Time in Five Years

French unemployment unexpectedly rose to its highest level in five years, signaling a weaker-than-expected labor market in the euro area’s second-largest economy. The report adds to concerns that France was already on a soft footing when the Iran war began, increasing downside risks to near-term growth.

Analysis

French unemployment unexpectedly rose to its highest level in five years, signaling a weaker-than-expected labor market in the euro area’s second-largest economy. The report adds to concerns that France was already on a soft footing when the Iran war began, increasing downside risks to near-term growth.