EU unemployment rate drops under 10%

Unemployment across the eurozone fell below 10 per cent in February, new European Union figures showed yesterday, suggesting some 77,000 fewer people were out of work.

The rate of unemployment across the 17-nation currency area fell to 9.9 per cent – after January’s rate was revised upwards to the symbolic one in 10 level.

The jobless rate in the single currency area had been stuck at 10 per cent since July last year, hitting a record 10.1 per cent in October, according to seasonally-adjusted Eurostat figures.

Some 15.75 million people were looking for work in February.

Across the wider 27-nation EU, which includes non-euro Britain and Poland, the jobless rate was 9.5 per cent. Some 23.05 million people were looking for jobs in January in the EU, 99,000 fewer than in January.

The highest unemployment rate was recorded in Spain at 20.5 per cent, while the Netherlands had the lowest rate at 4.3 per cent.

The corresponding rate for the United States was 8.9 per cent, and for Japan 4.6 per cent.