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Euro-Area Unemployment Falls to Eight-Year Low

Joblessness in the euro region drops to lowest level since January 2009

Euro-area joblessness declined to 8.9 percent in September, falling to the lowest level since January 2009 and beating the median economist estimate in a Bloomberg survey. European Central Bank President Mario Draghi has repeatedly urged governments to step up efforts to encourage job creation and strengthen economic resilience in the region, though last week he noted “improving labor market conditions,” which have helped create 7 million jobs over the past four years.

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