Financial Times FT.com

French unemployment rises to 10 per cent

By Martin Arnold in Paris

Published: February 25 2005 12:28 | Last updated: February 25 2005 14:47

French unemployment reached its highest level for five years in January, breaking through the symbolically important barrier of 10 per cent and dealing a further blow to the credibility of the government of Jean-Pierre Raffarin, prime minister.

The surprise rise in unemployment came at an awkward time for Hervé Gaymard, finance minister, who resigned on Friday over his government-funded €14,000 (£9,700) a month luxury apartment.

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