Working through two of USCIB’s affiliates – the International Organization of Employers (IOE) and the Business and Industry Advisory Committee to the OECD (BIAC) – global business called on the G20 to make a fresh commitment to maintaining and creating jobs, following forecasts of renewed economic uncertainty and slow global growth.
At this week’s G20 labor ministerial in Paris, IOE Executive Vice President Daniel Funes de Rioja of Argentina stressed the need for strong, sustainable and balanced growth, underpinned by measures that will restore business confidence to take risks, invest and generate job opportunities.
American business representatives at the ministerial included BIAC Chairman Charles Heeter, principal with Deloitte LLP and a member of USCIB’s board, and USCIB Executive Vice President Ronnie Goldberg, who serves as a regional vice president of the IOE and chairs BIAC’s Employment, Labor and Social Affairs Committee.
Advocating concrete measures to address the worsening global jobs outlook, employers recommended improving the quality of business regulation, and a closer focus on labor markets, in the context of reduced government capacity for direct stimulatory expenditure.
Mr. Funes de Rioja particularly highlighted the need for youth employment, employability, skills and education to be recognized as top priorities for the G20, along with economic and financial reforms. Read more on the IOE website.
BIAC called for strong action by G20 governments to avoid the devastating effects a “double-dip” global recession would have on employment.
“Without decisive action, we risk prolonging record levels of long-term unemployment and having millions more young people enter adulthood without the prospect of meaningful work,” stated Mr. Heeter. “This would be tragic for the individuals involved, their families and our societies.”
BIAC urged governments to prioritize action to restore investor and consumer confidence by delivering clear and pragmatic national, regional and global strategies for growth and job creation. “The way out of the crisis will come from the private sector growth. Governments must focus on creating a better business environment to restore investor confidence,” Mr. Heeter said. Read more on BIAC’s website.