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French unemployment hits new record high in April

People attend an employment fair in Lille on May 28, 2015French unemployment rose to a fresh record high in April, official statistics published Monday showed, with 3.53 million people out of work, a rise of 26,000 compared with the previous month. The news will come as a blow to the government of President Francois Hollande, who has pledged not to seek a second term in office in 2017 if he fails to reverse the upward trend in unemployment. This prompted Finance Minister Michel Sapin to say that an annual growth rate of 1.5 percent — seen as the rate required to shorten the jobless lines — was “perfectly possible”, even if the official forecast remains for 1.0 percent.

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