- Recovery from the global economic crisis is mirrored in the labour markets.
- The unemployment rate is projected to have remained steady at 4.5 per cent in 2012.
- Labour markets remained tough for young people, but youth unemployment has trended down in the Philippines and Indonesia.
- Progress in reducing vulnerable employment remains uneven. In 2012, 185 million people, or over 61 per cent of the region’s employed, were in vulnerable jobs.
- Structural change has remained largely unaffected by the crisis and continues to contribute significantly to growth.
- In addition to structural change, labour productivity improvements in both the industry and services sectors are projected to contribute significantly to growth. (See 2nd chart below)
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