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Eurozone Unemployment Hits Record 10.4 Percent

Official European Union statistics show that unemployment in the 17-nation eurozone ended 2011 at 10.4 percent -- a new record high since the euro was launched in 1999.

Eurostat, the EU's statistics office, reports that nearly 16.5 million people were unemployed in the eurozone at the end of 2011.

The country with the eurozone’s highest unemployment rate remains Spain, where 22.8 percent of the working population is without work, followed by Greece at 19.2 percent.

The country with the lowest eurozone unemployment rate is Austria, at 4.1 percent, followed by Holland at 4.9 percent.

There are 10 European Union members who use their own currency and are not part of the eurozone.

The unemployment announcement came after EU leaders held a summit on January 30 aimed at pulling the bloc out of its debt crisis and reviving economic growth and job creation.

Compiled from agency reports