A method comprising: receiving, at a network node within a network, a packet from another network node (506,206,502) within the network; identifying, within the packet, a label stack that includes a plurality of labels that collectively represent at least a portion of a label-switched path within the network; popping, from the label stack, a label that corresponds to a next hop of the network node included in the label-switched path; determining, based at least in part on the label, that the next hop has experienced a failure that prevents the packet from reaching a destination via the next hop; in response to determining that the next hop has experienced the failure, identifying a backup path by searching a context table which includes one or more of labels that correspond to downstream nodes in the label-switched path, wherein the backup path: merges with the label-switched path at a next-to-next hop included in the label-switched path; and enables the packet to bypass the failed next hop and reach the destination; wherein identifying the backup path further comprises: identifying, within the label stack, a subsequent label that: resides subsequent to the label popped from the label stack; and corresponds to the next-to-next hop included in the label-switched path; looking up a bypass label assigned to at least one bypass network node included in the backup path based at least in part on the subsequent label; and further comprising applying the bypass label to the packet at the network node prior to forwarding the packet via the backup path; and upon identifying the backup path, forwarding the packet to the next-to-next hop via the backup path and via the at least one bypass network node. receiving, at a network node within a network, a packet from another network node (506,206,502) within the network; identifying, within the packet, a label stack that includes a plurality of labels that collectively represent at least a portion of a label-switched path within the network; popping, from the label stack, a label that corresponds to a next hop of the network node included in the label-switched path; determining, based at least in part on the label, that the next hop has experienced a failure that prevents the packet from reaching a destination via the next hop; in response to determining that the next hop has experienced the failure, identifying a backup path by searching a context table which includes one or more of labels that correspond to downstream nodes in the label-switched path, wherein the backup path: merges with the label-switched path at a next-to-next hop included in the label-switched path; and enables the packet to bypass the failed next hop and reach the destination; merges with the label-switched path at a next-to-next hop included in the label-switched path; and enables the packet to bypass the failed next hop and reach the destination; wherein identifying the backup path further comprises: identifying, within the label stack, a subsequent label that: resides subsequent to the label popped from the label stack; and corresponds to the next-to-next hop included in the label-switched path; looking up a bypass label assigned to at least one bypass network node included in the backup path based at least in part on the subsequent label; and further comprising applying the bypass label to the packet at the network node prior to forwarding the packet via the backup path; and identifying, within the label stack, a subsequent label that: resides subsequent to the label popped from the label stack; and corresponds to the next-to-next hop included in the label-switched path; resides subsequent to the label popped from the label stack; and corresponds to the next-to-next hop included in the label-switched path; looking up a bypass label assigned to at least one bypass network node included in the backup path based at least in part on the subsequent label; and further comprising applying the bypass label to the packet at the network node prior to forwarding the packet via the backup path; and upon identifying the backup path, forwarding the packet to the next-to-next hop via the backup path and via the at least one bypass network node.