The number of jobless people in France rose to a record high in December, thwarting President François Hollande's pledge to start a fall in unemployment by the end of 2013, reports the Wall Street Journal.
The number of category A job seekers—defined as registered job seekers who are fully unemployed—rose 0.3% in December from November to 3,303,200, the highest number since comparable records began in 1996, labor ministry figures showed Monday.
The unemployment figures mark a setback for Mr. Hollande, who made bringing down unemployment the sole focus of his economic policy last year. Promising an "inversion" of the unemployment curve, his government multiplied state sponsored initiatives, especially those to get young people into work.
Implicitly acknowledging the failure, ministers have shifted their rhetoric in recent weeks to welcome a "stabilization," or the start of an inversion.
Speaking ahead of the data's publication, Mr. Hollande said his recipe for bringing down unemployment is missing a key element: economic growth.
Read more of this report from the Wall Street Journal.