- With economic activity slowing, labour markets were sluggish in 2012.
- The unemployment rate remained low at 4.4 per cent in 2012, but youth unemployment was at 9.5 per cent.
- Employment expanded only 0.5 per cent, or 4.5 million.
- In 2012, only one in two workers was employed as a wage or salaried worker.
- Labour productivity growth was 6.1 per cent in 2012 and projected to increase to 6.8 per cent in 2013.
- Many workers have moved from low productivity sectors to more productive sectors, also during the crisis.
- In addition to structural change, improvements in labour productivity in both the industry and services sectors have contributed significantly to growth and are expected to remain important contributors in 2011-17. (See 2nd chart below)
Mouse over the charts to see the values