Labour market

The labour market situation has improved slightly after the strong deterioration during the crisis. The main problems remain age segmentation, which is reflected in low employment rates for young and older people, and a large share of long-term unemployed. Earnings, which were to a lesser degree adjusted to the crisis than employment, have increased only modestly in recent years in the absence of price pressures, a rising share of low-wage earners and companies’ efforts to maintain competitiveness.