- Crisis conditions have returned in much of the region, and the loss in risk appetite of investors in Europe is spreading more widely.
- Uncertainty makes firms reluctant to hire.
- Unemployment at 8.6 per cent in 2012, is expected to rise further this year and decline from 2014 onward.
- Youth unemployment is particularly acute in Europe, topping 50 per cent in some countries. Increasing numbers of youth have given up looking for a job.
- Almost 34 per cent of job seekers have been unemployed for 12 months or longer, up from 28.5 per cent before the crisis.
- Skills mismatches are increasingly affecting labour markets.
- Labour productivity improvements within services are projected to be the main growth engine in 2011-17. (See 2nd chart below)
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