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French unemployment exceeds three million

The unemployment figure in France passed the three million mark in August 2012, a 9% increase on a year earlier and country’s 16th consecutive monthly rise. Some analysts predict that the pattern will only continue, with consumer confidence sliding and France’s central bank forecasting that the economy will contract by 0.1% in the third quarter.

Commenting, Mathieu Plane, economist at the French Economic Observatory, said “There are almost one million more unemployed people compared with early 2008 and we can’t yet say that we have reached the peak.

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