Eurozone unemployment just dropped to a 4-year low -- and Germany's jobless rate has never been lower

Eurozone unemployment dropped to a four-year low last month, with a better rate than analysts expected.

Unemployment fell to 10.7% from 10.8%, leaving it at the lowest level since the end of 2011, during the midst of the crippling euro crisis.

German unemployment actually slumped to a record low, at 6.3% — the lowest rates since the country was reunified at the end of the Cold War. When the statistical method for calculating jobless numbers harmonised with other European countries, the unemployment rate is even lower at just 4.5%.

Though the figures for the eurozone are still high overall, they’re down from 12.2% in mid-2013, a decline of 1.5 percentage points in a year and a half.

NOW WATCH: JAMES ALTUCHER: The American Dream is a lie

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.