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Labor markets in developing countries resilient in the face of slowing growth (Inglês)

Employment outcomes continued to improve in the second quarter of 2012 in a sample of 12 middle-income countries, despite weakening economic growth. This report shows median growth rates for output, employment, and wages as well as the median unemployment rate for 12 middle-income countries. Gross domestic product (GDP) growth continued to slow down, due in large part to continued uncertainty over economic conditions in the European Union. Despite these headwinds, labor market indicators in these countries continued to slowly improve. Median employment growth nudged upward to 2.3 percent, while median unemployment fell to 5.7 percent, resuming its steady decline from the heights of the financial crisis. The continued sluggishness in the global economy has not halted the slow but steady recovery of these countries’ labor markets from the impacts of the financial crisis.

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