A Glass Half Empty
For the first time in years, there is modest optimism about one half of the transatlantic economy and cause for less pessimism about the other. Relatively strong growth numbers for the United States toward the end of 2013 have some observers proclaiming that the U.S. economy is back on track. The past year also saw the eurozone finally emerging from recession. Even the unemployment situation no longer seems as gloomy, especially in the United States, where the unemployment rate dropped to 6.6 percent in January 2014, its lowest level since October 2008. At the same time, EU and eurozone average unemployment levels have at least stabilized, if at elevated levels.