The continued expansion in economic activity at first seemed to have had the desired effect on employment creation and from 2002 onwards there were some quarters in which increases were recorded in the formal non-agricultural employment in the economy.
On balance, employment creation in the non-agricultural sectors of the economy continued to be disappointing and it seems that the total number of persons employed declined in the current upward phase of the business cycle. The creation of employment opportunities will be crucial if we are to improve people's lives in the years ahead.