News Summary: French 1Q unemployment rises

News Summary: French unemployment rises to 10.8 percent in first quarter

Associated Press

STILL CLIMBING: France's unemployment rose to 10.8 percent in the first quarter, continuing a two-year rise, the national statistics agency reported. It stood at 10.5 percent at the end of 2012.

COULD BE WORSE: France has not seen the astronomically high unemployment rates of its neighbors, like Spain. And it has been slower than other European countries to cut spending and reform its labor market and benefits system.

PEAK IN 2014?: French President Francois Hollande has promised to reverse the rise in unemployment by the end of this year, but that is looking increasingly unlikely. Some economists say it won't peak until at least next year.

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