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January 8, 2010
Eurozone unemployment hits record high

In the 16 countries that use the euro as their currency, the jobless rate has hit 10 percent for the first time since the single currency was introduced 10 years ago. Analysts say it could approach 11 percent by the end of the year.

The highest unemployment rate is in Latvia — 22.3 percent — followed by Spain at 19.4 percent.

Germany, France, the United Kingdom, Italy and Spain are among the world’s top 10 economies.

Roben Farzad, a senior writer for Bloomberg’s BusinessWeek, joins Daljit Dhaliwal to discuss the implications of the gloomy economic news.

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GDP grew in the 3rd quarter, jobs are always lagging the numbers recovery in each recession. Those thinking about long-term recovery, know the enviroment will be a big winner in the conversion to biofuels & biopower — saw a cool site; Balkingpoints ; incredible satellite view of earth


As an ex-pat Latvian, I think Latvia needs to focus on 1.trimming the size of the gov’t, 2.getting whatever bailout it can to keep essential services going 3.take care of its own – i.e. barter & trade within the country and neighbors. The EU, who many believe is worse than the USSR, has forced Latvia to stop producing dairy and sugar etc.,and other industry. It’s proven to be a failed ‘experiment’ that has hurt thousands.


As a former resident of Latvia I 100% suare that the economic situation in Latvia much worse than you show it in your interview.


I think the world economy situation can’t be fixed wothour much suffering, due to several factors, i.e., mis-utilization of human potential and economic exploitation. I suggest we google the little word “PROUT” to get a the straight answers for the good and well-being of all.

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