Posted on 07/02/2006 9:31:02 PM PDT by george76
The French government plans to raise its legal minimum wage by slightly more than 3 percent...
The 3.05 percent increase will boost the hourly minimum wage to $10.39...a raise that will apply to 2.5 million workers.
One of the highest in Europe, minimum wage in France has increased by more than 17 percent in the last four years...
Some business leaders, meanwhile, interpreted the increase as a ploy by an unpopular government to win votes ahead of the 2007 presidential elections.
(Excerpt) Read more at chron.com ...
This should be pretty cool. I've never seen a country self-destruct via democracy before.
Those yoots will be burning cars again...
They can't fire people ..
More like going out of business
Hard to say which will collapse first, France or Zimbabwe.
Does France have a law that an employer can not fire any employee ?
Even theft from the employer, business downturns, etc ?
$10.39? That's ridiculously high. Also 17% over four years far exceeds inflation.
It should be $5.15 in 1997 dollars, adjusted for inflation, IMO...which would make it about $6.20 today.
This should do it.
Why would anyone would start a business and hire anyone in France ?
Or even hire an employee for an existing business !
Their unemployment rates should go up some more.
French Finance Minister Confirms France '06 Growth Of 2%-2.5%
Breton, who was speaking on French radio, also said he still believes France's unemployment rate could fall to 8.5% by April 2007, if the economy's current momentum is maintained. In May, French unemployment saw its largest drop in six years to 9.1%.
The finance minister also announced that the government would raise the interest rate on pass book savings accounts by at least 0.25 percentage point at the beginning of August.
Thanks.
France sounds like a huge disaster...waiting to happen.
I know there were all those riots in France, Belgium, etc. last year.
But it seems that it will get alot worse in the years ahead as the muslim population expands and the native French die off.
The 3.05 percent increase will boost the hourly minimum wage to $10.39...a raise that will apply to 2.5 million workers.
I predict 1/3 of 2.5 million will be unemployed with 6 months and another 1/4 of the 2/3 left after a year !
I'll bet that will help the unemployment rate (not.)
Idiots.
That will boost the number of jobs for teens for sure!
The youths will be burning cars again.
The only reason France hasn't completely imploded economically is that someone else pays for and provides all its military protection.
This has allowed them for decades to pull this crap.
But I'd say within 20 years, even thats not going to be enough to save them.
Soccer is France's only hope now.
France and their politicans got Sadaam's oil for cover money. But that is over.
French wine sales have not been great. I read that they were even pulling up some vineyards.
Looks ugly.
Great idea to jumpstart a sluggish economy with a sky high unemployment rate.
With an unemployment rate of close to 11% why not? Unemployed people don't collect any wages, let alone minimum, they just stay on the dole.
Brazil was not good. Their players looked slow compared to other Brazilian teams in other years.
Not to take away from the French soccer effort, but did Brazil only have one shot on goal when France won ?
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