Job Trends – Despite Sluggish Growth, Labor Markets in Developing Countries Continue Their Gradual Recovery

In a sample of developing countries, growth in the fourth quarter of 2011 slowed amidst considerable economic uncertainty. Figure 1 shows median growth rates of output, employment, wages, and the median unemployment rate for 11 countries with complete series on all four indicators. Median growth in gross domestic product (GDP) weakened slightly over the fourth quarter in the previous year, from 4.5 to 4.1 percent, most likely reflecting continued uncertainty over financial and fiscal conditions in parts of the European Union. The median unemployment rate also fell significantly, down to 5.2 percent from nearly 7 percent the previous year and 6 percent the previous quarter. Formerly unemployed workers were absorbed into the workforce as employment growth rose from 1.9 percent the previous quarter to 3 percent. Employment also partially benefited from moderate wage growth, which weakened slightly from the previous quarter…

Source:

Read More @ Job Trends – April 2012.