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France Steps Up Effort To Encourage Hiring - Yahoo News

The embattled Socialist-led government is making its second push this year to energize the labor market in Europe's second-largest economy, after a top economic official called the previous plan "a failure." Although President Francois Hollande has made cutting unemployment the cornerstone of his tenure, the jobs market is in fact getting worse. Unemployment climbed to website 10.4 percent in the third quarter from 10.1 percent in the previous three months despite a package of payroll tax cuts for businesses earlier this year that was meant to encourage hiring. Economy Minister Emmanuel Macron will on Wednesday present a new official site bundle of policies a "growth and activity" bill. It has sharply divided Hollande's own Socialist Party but drawn praise from France's powerful business lobby, Medef, which argues that previous efforts did not go far enough. Macron is a former Rothschild investment banker who Hollande chose to replace Socialist firebrand Arnaud Montebourg last August. Four months into the job, Macron has been thrust onto the front lines of France's effort to create jobs and save Hollande's.
More: http://news.yahoo.com/france-steps-effort-encourage-hiring-061138185.html

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