Luxembourg's stable and high-income market economy features moderate growth, low inflation, and a high level of innovation. Unemployment is traditionally low, although it had risen to 6.1% by May 2012, due largely to the effect of the 2008 global financial crisis. In 2011, according to the IMF, Luxembourg was the second richest country in the world, with a per capita GDP on a purchasing-power parity (PPP) basis of $80,119. Its GDP per capita in purchasing power standards was 261% of the EU average (100%) in 2019. Luxembourg is ranked 13th in The Heritage Foundation's Index of Economic Freedom, 26th in the United Nations Human Development Index, and 4th in the Economist Intelligence Unit's quality of life index. Luxembourg was ranked 18th in the Global Innovation Index in 2019 and 2020.