Financial crisis

The ILO Declaration on Social Justice for a Fair Globalisation was adopted in June 2008. This Declaration reaffirmed and elaborated upon the ILO mandate "to examine and consider all international economic and financial policies in the light of the fundamental objective of social justice". In the months following the adoption of this Declaration it became apparent that the global economy was facing the most severe downturn since the Great Depression, with significant implications for employment, incomes and decent work.

Faced with the prospect of a prolonged global increase in unemployment, poverty and inequality, the ILO adopted a Global Jobs Pact in June 2009 to guide national and international policies aimed at stimulating economic recovery, generating jobs and providing protection to workers and their families.

Both the implementation of the Declaration and the Pact have major implications for the Office’s policies, strategies and programmes and constitute the thrust of the Policy Integration Department’s work. A particular emphasis is placed on activities related to the formulation, implementation and review of policy responses to the crisis. Both instruments guide the Department’s work with the tripartite constituents of the organisation in developing integrated national responses to the crisis.

Further information

  1. ILO Global Job Crisis Observatory

    21 October 2009