Eurozone unemployment in October fell to its lowest in three years.

 
Lynsey Barber
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More people ar i work across Europe (Source: Getty)

The rate of unemployment across the Eurozone has fallen to 10.7 per cent, falling for a second consecutive month to its lowest in three years.

That beat expectations of 10.8 per cent for October, the latest official statistics reveal.

The number of jobless fell by 13,000 putting the total number out of work at 17.24m across the 19 countries across the region, although that was its smallest fall since June.

IHS chief economist Howard Archer blamed the slowdown on moderating GDP growth - 0.3 per cent quarter-on-quarter in the third quarter from 0.4 per cent in the second quarter and 0.5 per cent in the first.

Unemployment fell in all the major countries apart from France, where it rose by 25,000.

"The further drop in Eurozone unemployment in October together with ongoing negligible inflation should be supportive to consumer spending, which will hopefully allow it to play a key role in sustaining the Eurozone’s modest cyclical upturn," said Archer.

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