Economic growth remained buoyant in 2012and unemployment levels were stable at close to 7.5 per cent.
Labour force participation remained high, reflecting the vulnerability of workers who cannot afford to leave the labour market.
The proportion of workers in vulnerable employment has decreased, but remains extremely high – 77 per cent in 2012.
Labour productivity remains very low, particularly in the informal economy.
Given the large share of workers in subsistence agriculture in this region, structural change has been an important source of growth; but there has been a slowdown of sectoral re-allocation during the crisis. (See 2nd chart below)
