The unemployment rate in France rose more than expected

The unemployment rate in France rose faster than expected to 7.4% in the third quarter, according to official statistics published on Wednesday, a rise that Finance Minister Bruno Le Maire blamed on slowing economic growth.

“This is a result of the economic slowdown in Europe and around the world,” Le Maire said.

Analysts polled by Reuters had expected growth of 7.3% in the third quarter, compared to an unrevised level of 7.2% in the second quarter.

The level of 7.4%, which represents 2.3 million people, is the highest since the second quarter of 2022.

On the other hand, annual inflation in France fell to 4.5% in October from 5.7% in September with a decline in prices in the energy and food sector, according to final data coordinated with the European Union issued by the National Institute of Statistics and Economic Studies on Wednesday.