Global Agenda Council on Employment & Social Protection 2011

The financial and economic crisis is now a crisis of unemployment. Today 34 million more people are unemployed than in 2007. An estimated 200 million more workers now live on US$ 2 per day, bringing the total to over 40% of the global workforce.

As workers see their purchasing power fall, the cycle of decline continues, undermining the first signs of economic recovery. Therefore, a job-rich recovery is needed.

Social protection, the set of policies and programmes designed to reduce poverty and vulnerability by promoting efficient labour markets, is limited or non-existent in many countries. Unless swift measures are taken, social unrest and political instability will rise, and unless the right policies are put in place for employment and social protection, the current crisis threatens future global growth.