Eurozone jobless rate drops to lowest since August 2011

Staff Writer
Columbus CEO

LONDON (AP) — Official figures show that the unemployment rate across the 19-country eurozone has fallen to its lowest level since August 2011.

Statistics agency Eurostat says Tuesday the rate fell to 10.3 percent in January from 10.4 percent the previous month. It says that the number of unemployed fell by 105,000 during the month to a total of 16.65 million.

Unemployment in the eurozone has been on a downward trend for the past couple of years following the end of the region's longest-ever recession.

Still, it remains high — more than double the U.S. rate, for example — and particularly so in certain countries. Spain and Greece have unemployment rates over 20 percent.