Eurozone jobless rate falls to 8.8pc

The economic recovery in Europe is accelerating, with unemployment in the euro zone falling to its lowest level since January 2009 and inflation picking up, according to Thursday's official figures.

The official EU statistics agency announced that the unemployment rate in the single currency area fell to 8.8% in October, with inflation rising to 1, 5%.

Positive data comes after the European Central Bank (ECB) announced that it was beginning to reduce massive support that it has given to the 19-member monetary zone to help it to to go through the crises of the last years.

Seasonally adjusted unemployment in the euro area was down 8.9% in September, while the figure for the EU as a whole was 7.5% – the lowest since November 2008, according to Eurostat.

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