This report responds to the Governing Body decisions. It proposes elements of a Global Jobs Pact as the ILO’s contribution to recovery, for national and multilateral decision-making. It proposes to accelerate action to shorten the predictable time lag between recovery of growth and stock markets and recovery for people through productive employment and decent work. I believe this is an urgent demand on the political leadership today. Provided it is put into motion swiftly and decisively (and we have seen many examples of swift and decisive action in recent months), we hold within our hands the power to define policies that can help stop and reverse current trends and give the lie to gloomy forecasts.