| Sumario: | Part of a special issue on employment policy in the global economy outlines the current global economic and employment context. Employment policy encompasses the full spectrum of economic measures—from international trade and broad macroeconomic policy to the details of labor market policy. A greater level of aggregate demand and a revival of economic growth are key elements in a policy to create productive employment for the unemployed and for new labor force entrants. Further elements are enhancements to the system of economic governance, stable regimes for foreign investment, the application of new information and communication technology, coherent management of incentives, and measures to provide relevant skills and opportunities to those affected by changes in the economy. A combination of these elements offers the potential to counter the tide of disillusion and despair and to attain a virtuous cycle of rising productivity, economic growth, and expanding employment.
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