Brussels — Europe’s economic recovery is gaining pace, with the eurozone’s unemployment level at its lowest since December 2008 and inflation on the rise, official figures showed on Wednesday. The EU’s official statistics agency said the joblessness rate in the single-currency area fell to 8.5% in February, down from 8.6% in January. Eurostat said inflation in the eurozone jumped to 1.4% in March, a leap from February’s 1.1%. That edges inflation closer to the European Central Bank’s (ECB) target, although it is still a way off the desired 2.0%. The data are in line with recent statistics that suggest the European economy is growing at a solid pace after years of weak recovery following the debt crisis. The steady decline in joblessness comes on the back of three years of massive support from the ECB to help the 19-country single-currency zone survive the eurozone debt crisis. The ECB has bought more than €2-trillion worth of bonds during that time, helping trigger growth but strugg...
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