- The region emerged more rapidly than others from the crisis and labour market conditions continue to improve.
- In 2012, unemployment was at 6.6 per cent, little changed from the previous year and down from 7.8 per cent in 2009.
- Informal employment continued to decline, though it remained significant.
- Working poverty declined, in some cases considerably.
- Labour productivity improved only moderately and is projected to fall further, which constitutes a major constraint for further improvements in living standards and working conditions.
- Productive structural change slowed considerably during the crisis and is not expected to fully return on its pre-crisis path in 2011-17.
- Labour productivity improvements within services are projected to be the main growth engine in 2011-17. (See 2nd chart below)
Mouse over the charts to see the values