Sunday, May 3, 2009

Frech Unemployment is no Marie Antoinette

When it comes to the great country of France, there always seems to be a negative depiction on the French economy and people. Recently, figures show that French Unemployment is up to 8.2% which happens to be one of the top highest unemployment rates in Europe. Despite the almost 80,000 people who lost their jobs around the month of March, the 60,000 to 70,000 figure, even though it is lower, is still no joke. France passed a 34 billion dollar stimulus plan back in february, and this rise in unemployment seems to be unaffected by the stimulus plan, despite the declining total amount. Those aged between 25 and 19 have been hit the hardest with a 21.2% of unemployment just in this age category alone. Compared to the rest of the world, other countries are seeing similar trends. Only 18% of graduating seniors from universities in the United States have secure jobs. This includes both Ivy League schools all the way down to community colleges, which is a very scary reality. Many seniors are continuing their education to avoid the terrible job market. This may have both positive and negative effects in later years when the job market increases and there is a large amount of people with higher degrees and limited number of job opportunities. There have been many union riots and campaigns in France as French citizens are becoming more aware of their economic status' as they uphold their "take to the streets" attitudes. Go French!

No comments:

Post a Comment