The plan, known as the "new jobs contract," is meant to increase employment among less privileged youths by making the labor market more flexible. However, it does away with classic protections. Students fear the jobs law will leave youths more vulnerable than before, and eat away at long-standing measures that protect employees as France primes itself to better compete in a globalized world.
The French are doomed. They can't compete now. We will just keep watching their downward spiral toward anarchy. A downward spiral toward a revolution would actually be a good thing, but I believe anarchy is all they are capable of.
"Contrat de premiere embauche" means "first hire contract", not "new jobs contract".