Not exactly. At least by itself.
German suffered very nearly the same percentage losses, and seems to have been able to field an army of substance quite nicely.
Actually.......I don’t think that’s quite correct.
“One variety of war damage was more difficult to repair. France’s manpower losses were enormous; in proportion to population and to the number of men under arms, they exceeded those of any other warring nation. The dead totaled 1,357,800 and the wounded 4,266,000, and these losses were, of course, concentrated in the active male population. The effects were intensified by the fact that the rate of population growth had been declining since the mid-19th century. Thus the nation entered the postwar era with a serious labor shortage and with a gravely unbalanced distribution of population.”
http://longtail.hubpages.com/hub/france-after-the-first-world-war
Also, as a percentage of losses expressed in terms of losses v. men mobilized, it seems that France suffered a significantly higher percentage of losses. See: http://www.historylearningsite.co.uk/FWWcasualties.htm
This is also expressed at: http://weimar.facinghistory.org/content/casualties-world-war-i-country
What I believe to be more telling is found at:
https://en.wikipedia.org/wiki/World_War_I_casualties
Here we see the German total population before the war at 64.9 million while total French population was a mere 39.6 million.
In researching population numbers I uncovered an interesting resource!
You can see population growth/shrink by country along with debt figures and the like at:
http://countrymeters.info/en/United_States_of_America_%28USA%29/
The Russian Federation is going backward in population; French debt is out of control, (as is US). Germany shows as very strong in terms of fiscal management.
Interesting stuff!