The challenges of growth, employment and social cohesion. Joint ILO-IMF conference in cooperation with the office of the Prime Minister of Norway

The ILO-IMF Conference on "The Challenges of Growth, Employment and Social Cohesion" held in September 2010 in Oslo, took place at a significant time in recovery, when job creation was insufficient in many countries, global unemployment - especially among youth - reached its highest level ever and the current globalization model failed to serve the global public interest.

The joint discussion paper presented at the conference served as the main support for the debate on how to ensure that policies have the same priorities as people - more and better jobs. The paper has two contributions: on the human cost of recessions, assessing it and reducing it, prepared by the staff of the IMF, and on building an employment-oriented framework for strong, sustainable and balanced growth, prepared by the staff of the ILO. This joint publication highlighted many urgent issues for discussion amongst researchers, analysts and policy-makers, issues which have also been part of the deliberations of the G-20, to which both organizations have contributed.
The objective of the Oslo Conference was to improve the integration of employment and social policies with international and national macroeconomic policy strategies, through a better understanding of the forces at work in the global economy.
The IMF and ILO emphasized the central role that social dialogue played in crisis and its aftermath and agreed to furthering work on policy development.
They agreed to explore the concept of a social protection floor for people living in poverty and in vulnerable situations, within the context of a medium- to long-term framework of sustainable macroeconomic policies and strategies for development. The two institutions will equally focus on policies to promote employment-creating growth. There was also agreement to continue and deepen their cooperation in support of the G20 and its Mutual Assessment Process aimed at ensuring strong, sustained and balanced global growth.