Eurozone recovery helps unemployment fall to near 9-year low

Published October 31, 2017

Official figures show that the robust economic recovery across the 19-country eurozone persisted during the third quarter, helping unemployment fall to a near 9-year low.

Eurostat, the European Union's statistics agency, said Tuesday that the eurozone economy grew by 0.6 percent during the July to September period. Though that's slightly down on the stellar 0.7 percent tick recorded in the second quarter, it's modestly higher than expectations for a 0.5 percent rise.

Separately, Eurostat said unemployment fell to 8.9 percent in September from 9.0 percent the previous month. That's the lowest rate since January 2009.

Elsewhere, Eurostat said annual inflation in the eurozone dipped to 1.4 percent in October from 1.5 percent as the core rate, which strips out volatile items, surprisingly fell to 0.9 percent from 1.1 percent.

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