3 Days
Source:
AL24 News
France's jobless rate hits six-year high
France has postponed the rise of its unemployment rate to 8.3%, the highest level in six years, with 62,000 more people unemployed in the second quarter of 2026, bringing the total to 2.7 million. This situation results from deteriorating economic conditions caused by the war in the Middle East, the closure of the Strait of Hormuz, heatwaves, and major wildfires, all of which have led to rising fuel and gas prices and weak economic growth estimated between 0.6% and 0.7% for 2026. France is facing significant financial challenges, with its debt surpassing 110% of GDP, and projections indicating further budget deterioration and a deficit potentially reaching 5.2% of GDP, driven by increased borrowing costs and higher spending on healthcare and pensions due to an aging population.
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