ENG-2010 — Page 99

Chart 10

Main Components of Domestic Demand (year-on-year rate of change in real terms)

Per cent

20

18

16

14

12

10

8

6

4

2

0

-2

Government

-4

consumption expenditure

-8

-10

-12

-14

-16

-18

-20

Private consumption expenditure

Investment expenditure

in terms of gross domestic fixed capital formation

The Economy | 57

Chart 11

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

2006 I

2008 | 2009 1 2010

2007

Domestic demand held up well in 2010, on the back of strong consumer and business confidence amid improved labour market conditions and brighter prospects.

The Unemployment and Underemployment Rates

Per cent

8

7

6

UT

5

4

3

2

1

Seasonally adjusted unemployment rate

Underemployment rate

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

2006 1

2007

2008

2009

I

2010

The unemployment rate declined for most of 2010, led by a significant upturn in labour demand.

The Labour Market

Labour market conditions, having staged a gradual turnaround in the second half of 2009, witnessed a noticeable pick-up in the recovery pace in 2010, amid sustained economic growth and job creation. Total employment rose to a historical high of 3 563 700 by the end of the year, while the seasonally adjusted

while