Unemployment in France : 11%Libtards will never get it. You can not play Robin the Hood by taking money from the rich and give to the poor. All it will do is make everyone equally poor!
France Has a Plan to Restore Its Industrial Glory. It Won't Work
By Carol Matlack September 13, 2013
French Michelin employees, mostly from the Joue-les-Tours plant, try to pull out the gate of the company headquarters on June 26, after Michelin announced 700 job cuts
President François Hollande recalled France’s proud history of industrial innovation, from high-speed trains to nuclear power, as he announced a plan this week to create jobs by investing billions in new technologies.“We can all think of examples from the past,” he said at a Sept. 12 conference at the Élysée Palace.
The industrial policies that fueled Gallic competitiveness in years past, though, won’t help the problem France has now. Since the 1990s, European neighbors such as Germany—and more recently, Spain and other crisis-hit countries—have enacted reforms that make them far more business-friendly than France. French labor costs are now the highest of any major euro zone economy, and taxes have risen €70 billion ($93.1 billion) over the past three years, a period when the country’s economy barely grew at all. More new taxes are on the way. France “has some catching up to do,” says Jean-Dominique Senard, chief of executive of tiremaker Michelin (ML:FP).
Companies such as Michelin are doing more than complaining. In June, the tiremaker announced it was closing a 52-year-old factory in the Loire Valley where it makes tires for Paris Métro trains. The Métro production line is being moved to Spain, where the government of Prime Minister Mariano Rajoy last year overhauled labor laws to lower employers’ costs and give them greater flexibility. Hollande’s government this year enacted more-modest labor reforms, but that hasn’t stemmed job losses that have pushed unemployment to 11 percent, a 14-year high. Automaker Peugeot (UG:FP) has been hiring in Spain while shuttering factories at home in France.
Unemployment in Spain : 25%
What labour laws again has Spain introduced? Sigh.