French unions and employers struck a deal on Saturday to overhaul a costly and inefficient job training system by devoting more funds to the unemployed, reports Reuters.
The move comes as President Francois Hollande is seeking to stimulate a moribund job market.
France spends some 32 billion euros each year on job training, but much of the money is spent to train people who already have jobs and critics say too little goes to the unemployed and low-skilled most in need of new professional skills.
The deal, reached two months after the Socialist government called on unions and employers to start reform talks, is Hollande's latest effort to improve a job market plagued by 11 percent joblessness.
It foresees increasing funds to train the unemployed to 900 million euros ($1.24 billion) per year from 600 currently, creating a personal account for job training funds that workers can carry between jobs, and simplifying rules on financing.
"The draft fulfils goals set by the government, notably by offering more training to those who need it most: job seekers, less-skilled workers and employees of small companies," Prime Minister Jean-Marc Ayrault said in a statement.
Read more of this report from Reuters.