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April 1, 2011    

Euro zone unemployment rate drops below 10%

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by Kay Murchie
’Euro

The European Union’s statistics agency has today announced the unemployment rate in the 17-member euro zone fell below the 10% mark in February.

According to Eurostat, 77,000 fewer people were out of work taking the rate to 9.9%.

The jobless rate has been hovering around the 10% mark since last July and hit a record 10.1% in October.

Meanwhile, unemployment remains high in Spain – at above the 20% mark – while the lowest rate is in the Netherlands at 4.3%.

Meanwhile, in the 27-nation European Union, the unemployment rate is 9.5% with a total of around 23.05 million people unemployed.

In comparison, unemployment in the US stands at 8.9%, Japan’s unemployment rate is 4.6%, while in the UK it is currently at 8%.

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