Meanwhile, the unemployment rate for the euro zone came in at 12 percent for December - unchanged from November's 12 percent (which was revised down from earlier estimates of 12.1 percent). The number of jobless people in the region, however, fell by 129,000 - the largest monthly fall since the start of the financial crisis.
Investec Capital Markets analysts said in a note that the unemployment data was "hardly a strong signal of a turnaround in the euro zone."
But they added: "Considering we had 18 months of almost consistent hikes in the unemployment rate prior to 2013 (from 9.8 percent in June 2011 to 12 percent in December 2012), it is a strong sign that the euro zone has at least stemmed the bleeding."
(Read more: Euro zone economic recovery gathers steam?)
Archer agreed that although it was unclear that a decisive turnaround in euro zone labor markets was underway, they did look to have stabilized.
"Nevertheless, we suspect that with euro zone inflation set to remain very low for a prolonged period, bank lending to businesses continuing to fall markedly and the euro zone's recovery likely to remain gradual, the ECB is more likely than not to eventually take further action," he said.
"The ECB has indicated that it is particularly likely to act if there is an unwarranted rise in money market rates or if the medium-term inflation outlook moves lower."
With regards to those under the age of 25, December's youth unemployment rate was 23.8 percent, slightly lower than the 23.9 percent recorded for the same month in 2012.
In some countries, however, the youth jobless figures paint a more gloomy picture. The rate of unemployment is highest in Greece, at almost 60 percent and Spain, where it is at 54.3 percent.