Unemployment in the Group of 20 leading world economies nears 8% of the total workforce, according to the International Labor Market. With that statistic in mind, let’s take a look at the G20 Communique that took place last Friday.
What do our global leaders prescribe for an ailing economy?
They’re going to:
put jobs at the heart of the recovery, to provide social protection, decent work and also to ensure accelerated growth in low income countries (LICs)…
implement a range of structural reforms that boost and sustain global demand, foster job creation, and increase the potential for growth…
promote resilience, job creation and mitigate risks for development, [by] prioritiz[ing] action under the Seoul Consensus on addressing critical bottlenecks, including infrastructure deficits, food market volatility, and exclusion from financial services…
further strengthen the global economy, accelerate job creation, ensure more stable financial markets, narrow the development gap and promote broadly shared growth beyond crisis…
Takeaways:
1. G20 leaders recognize a need for job creation.
2. Brevity as wit is not highly valued in government.
We are left with four paragraphs about job creation, and no specific plans or detailed action items.
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