What major issues did France face during the global economic crisis?

France has struggled with high unemployment since the 2008 global financial crisis, as have other EU countries.5 But while unemployment has since improved for other European nations, it has continued to affect France's productivity and competitiveness. Also, In 2013, France introduced the Competitiveness and Employment Tax Credit (CICE) to lower labor costs and help French firms become more competitive. In 2019, the CICE was scrapped and replaced with a reduction in employer contributions to social welfare programs. Despite lower labor costs, many French manufacturers cannot find sufficient skilled labor to meet demand, which is hampering growth. Government reforms of apprenticeships and vocational training could help in this regard. Lastly Sluggish growth. In December 2019, the Banque de France expected 2019 economic growth to come in at 1.3%. The bank forecast growth easing to 1.1% in 2020 before strengthening in 2021 and 2022.

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