The price for an over sized welfare state is jobless

In France the welfare state is over sized, all the incentives play in synergy to maintain low skilled workers outside job market.
The rocketing jobless rate is the mirror of the welfare state expansion.
But as those subsidies are partly financed by debt and borrowed on markets taxes are very high and the economy is frozen.
This equilibrium is possible because of a very large amount of liquidity in the public debt market and very low interest rates.