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French president puts country under state of emergency, promises to redefine economic model

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January 19
7:05 AM 2016

French President Francois Hollande declared "a state of economic and social emergency" and promises to improve the country's business model. He also unveiled a 1-billion-euro budget to revive hiring and to keep up with the world's economy.

According to the Financial Post, president Hollande's proposals are modest and would not in any way affect the 35-hour workweek. He told business leaders his plan to train some 500,000 jobless workers, improve the use of apprenticeships, and help companies that takes in young workers.

France's Socialist government has been trying to solve the unemployment problem of the country, which has been steadily hovering around 10 percent for several years. He emphasized the importance of improving the country's labour-friendly business model as the online economy makes the global job market a smaller place.

The current number of unemployed people in the country is 5,743,600. That is 650,000 more compared to before Hollande became president in 2012. He said he will not run for re-elections unless this rate is curbed.

He proposed loosening the tight working time rules and provide 2,000 euros to small business that employs young workers, according to a report by The Australian. He stressed the importance of providing better jobs for youths and minorities in the troubled suburbs of the country. Unemployment among France's African communities is one of the driving factors of violence and drug trade among youths.

"Aside from the security of the French people, the only question that matters is employment," said Hollande in a report by The Irish Times. "I consider that, faced with the disorder of the world, faced with an uncertain economic situation and persistent unemployment; there is also a state of economic and social emergency to be proclaimed."

The president plans to reform the country's 3,689-page labour code to create a new unemployment insurance system. He repeatedly compared the terrorism crisis to the problem of unemployment. The measures mentioned above will be included in the economic reform laws that will be presented to the parliament in the following weeks.

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