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French Unemployment At Record High

The number of registered unemployed in France rose to a new record high in February, the labor ministry showed Wednesday.

Registered job seekers increased by 31,500 or 0.9 percent to a record 3.348 million in February. Compared with the same period of last year, unemployment climbed 4.7 percent.

The number of jobseekers below the age of 25 increased 0.3 percent and that between 25 and 49 rose 1 percent.

According to the statistical office, Insee, the ILO jobless rate for metropolitan France and overseas departments decreased to a seasonally adjusted 10.2 percent in the fourth quarter of 2013 from 10.3 percent a quarter ago.

Data from labor ministry poses a big blow to President Francois Hollande's Socialist government during local elections. Hollande is likely to reshuffle his government and replace Prime Minister Jean-Marc Ayrault.

by RTTNews Staff Writer

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