ECB says recovery imminent as employment falls

New Eurozone employment data saw employment fall to its lowest level since the first quarter of 2006 in the last quarter of 2012.

Employment fell by 0.3 per cent on a quarter on quarter basis (compared to -0.1 per cent prior, revised from -0.2 per cent) and fell by 0.8 per cent year on year (compared to -0.6 per cent prior, revised from -0.7 per cent).
Despite this, the European Central Bank (ECB) claims that recovery is on its way this year.