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More regulations that will ensure that #PMEs in France will not hire and French multinational comoanies will continue to seek other countries to hire workers. The Socialists in France are planning to ramp up the cost of laying off workers for companies in the coming months, its labor minister said on Thursday after data showed the jobless rate hit the highest level this century at 10 percent.

The push to make firing more difficult in France, where making layoffs is already tightly regulated and often costly for employers, contrasts with moves under way in other euro zone countries such as Italy and Spain to make job cuts easier.

With the economy stalling, Labor Minister Michel Sapin said urgent measures were needed against unemployment and that he aimed to put forward legislation after the summer break.

"The main idea is to make layoffs so expensive for companies that it's not worth it," Sapin said in an interview with France Info radio.

"It's not a question of sanctions, but workers have to have compensation at the right level," he said.

Evidence that #hollande et al eithrt missed lectures in Economics 101 or simply failed the course. But then pere noel wears red and white perhaps their guardian saint as they certainly believe in fairy tales.

http://in.reuters.com/article/2012/06/07/france-economy-unemployment-idINL5E8H730P20120607
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