Eurostat released its unemployment data for the Eurozone on Friday. Eurozone's unemployment rate declined to 10.8% in September from 10.9% in August. It was the lowest reading since January 2012.

August's figure was revised down from 11.0%.

Analysts had expected the unemployment rate to rise to 11.0%.

There were 17.323 million unemployed in the Eurozone in September, down from 17.454 million in August.

The lowest unemployment rate in the Eurozone in September was recorded in Germany (4.5%) and Malta (5.1%), and the highest in Greece (25.0% in July 2015) and Spain (21.6%).

The youth unemployment rate was 22.1% in the Eurozone in September, compared to 23.4% in September a year ago.