France to reallocate 2b euros for job creation

France will reallocate 2 billion euros (US$2.6 billion) from its 2013 budget to state-aided job creation as part of efforts to stem unemployment, Budget Minister Jerome Cahuzac said.

With joblessness at a 13-year high 10.3 per cent, President Francois Hollande has promised to turn things around this year and hopes that plans to create thousands of subsidised jobs and incentives for companies to hire young workers kick in quickly.

via Business feed http://www.scmp.com/business/economy/article/1121879/france-reallocate-2b-euros-job-creation