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French jobless total hits 14-year high

Labour Ministry data shows the number of jobseekers rose by 45,400 in October to hit 3.103 million, the highest level since April 1998.

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The number of people out of work in France soared again in October to hit its highest level in 14-and-a-half years, piling pressure on Socialist President Francois Hollande who has promised to halt the relentless rise by the end of 2013, reports Reuters.

Labour Ministry data showed the number of jobseekers in mainland France rose by 45,400, or 1.5 percent, to hit 3.103 million, marking the 18th consecutive monthly increase and taking the total to its highest level since April 1998.

The increase was only slightly smaller than in October which saw the biggest jump in jobless rolls since April 2009, showing the deterioration in the job market is accelerating as recession in the broader euro zone hits demand.

France's 1.9 trillion euro ($2.46 trillion) economy has been virtually stagnant since grinding to a halt at the end of last year, and many economists expect it to contract in the months ahead despite a surprise 0.2 percent rise in the third quarter.

With the economy still struggling, the Labour Ministry said there was a risk the figures could get even worse.

But it noted that new measures to bolster company investment and the youth job market that will kick in from next year have yet to produce results.

Read more of this report from Reuters.