Creating jobs and lifting participation
With the world economy still recovering from the Global Financial Crisis (GFC), unemployment continues to hamper many countries and people are struggling to find work and study opportunities.
The International Labour Organization estimates that 62 million more workers would be employed if the world economy had continued on its pre-GFC growth path. This jobs gap disproportionately affects young and disadvantaged workers. According to the World Bank, there are more than 300 million young people around the world who are neither working nor studying.
Sustained high levels of unemployment have both economic and social implications, especially for young people and vulnerable groups. G20 members are discussing measures to lift labour force participation and create the right conditions for private enterprise to generate employment opportunities. This includes actions to strengthen female participation, address structural unemployment and, informal employment and improve labour market outcomes for young people and vulnerable groups, and improve workplace safety.
Download the Policy Note Lifting employment and workforce participation.
Taskforce on Employment
Co-chairs: Australia and Turkey
In 2014, the G20’s Taskforce on Employment (TFE) coordinated the development of members’ employment plans that have been included in country growth strategies and the Brisbane Action Plan. To ensure that efforts to increase job opportunities (labour demand) and the pool of ready workers (labour supply) are coordinated, the TFE collaborated with two key G20 working groups – the Framework Working Group and the Development Working Group. The TFE also coordinated with Finance Deputies on macroeconomic issues to ensure employment actions were incorporated into country growth strategies. Country growth strategies address underemployment and informal employment and lift workplace safety and female participation.
There were five TFE meetings