- The labour market improved moderately but lost some momentum.
- Unemployment, which reached a peak of over 10 per cent in 2009, was down to 8.2 per cent in 2012 and is expected to decline modestly by 2017.
- Labour force participation has increased despite demographic aging.
- Labour market developments were above average in resource-rich countries, such as Russia, where unemployment was 5.4 per cent in July 2012.
- Informal employment remains a major challenge.
- Productive structural change has experienced a sharp slowdown during the crisis and is not expected to fully return to the pre-crisis path in 2011-17.
- Productivity improvements within sectors have contributed much less to growth during the crisis compared to before.
- 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