The eurozone's unemployment rate reached 11% in August, higher than the consensus estimate of 10.9%, according to FXStreet.

There was a decline in unemployment rate in 23 countries during the same period, including Germany, Spain, Estonia, Slovakia, Bulgaria, Ireland and Poland, said the Financial Times.

On the flipside, the unemployment rate surged in France, Austria, Belgium and Finland.

Growth in the eurozone declined 0.4% in the second quarter of 2015 from 0.5% at the beginning of the year, according to the Financial Times.