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France to create 1.8 mn jobs via responsibility pact

Posted on Jan 17 2014 | IANS

Paris, Jan 17 : The French government aims to create 1.8 million new jobs under the responsibility pact in the next five years, French Minister of Industrial Recovery Arnaud Montebourg said Thursday.

"To bring the unemployment rate down to 7 percent by 2018, we should create 1.8 million jobs over the next five years," said the minister in his New Year address to media, Xinhua reported.

He considered "not enough" the creation of one million jobs promised by Medef, France's main employers' organisation in turn of enjoying 100 billion-euro-cut in the labour charges.

On Tuesday, French President Francois Hollande unveiled a new device to battle against unemployment based on reducing labour costs and simplifying administrative procedures.

French central bank governor Christian Noyer has urged the implementation of Hollande's pact, which according to him is "exactly what is needed to get growth going".

French Prime Minister Jean-Marc Ayrault will meet trade unions and employers' organisations Jan 27 to kick off works on the "responsibility pact."

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