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Euro Area Unemployment Surges

The unemployment rate of the eurozone reached 10.8% in February, up from 10.0% a year ago according to EuroStat. Unlike the in United States, the trend is in the wrong direction. The lowest rates were in Germany (5.7%) and the Netherlands (4.9%), as would be expected. Also expected were the horrendous rates in Spain (23.6%) and Greece (21.0%). These two figures were up sharply from a year ago.

It remains impossible to believe that the economies of Spain and Greece can recover. It is entirely possible that they will get worse and that gross domestic product will plunge at a more rapid rate than last year. The European Union’s new rescue package, set at more than $1 trillion dollars, is to help bailout countries with debt problems. None of it is meant to go to stimulus — which may be the only hope for the region’s most troubled economies.

The #1 Thing to Do Before You Claim Social Security (Sponsor)

Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.

A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.

Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.

 

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