Rapid digitization of our economies, globally diverging demographic trends, climate change and evolving globalization are having a profound impact on the nature of work worldwide. In particular, the impact of the ongoing digital revolution on labor market outcomes across the globe requires enhanced attention, coordination, and collaboration.
An effective and strong Partnership between the European Commission and World Bank Group will be essential to address the new challenges. Building on our longstanding relationship and complementary roles, we are determined to further strengthen our strategic dialogue and coordinate approaches to tackle the issues related to the future of work. Job creation and inclusive economic growth for sustainable development are key objectives for both institutions in all the regions and countries where we operate. Creating decent jobs unleashes important positive externalities that are at the centre of economic transformation. This must be underpinned by urgently accelerating more and better investment in human capital. Tackling the issues related to the future of work is key for the successful implementation of the 2030 Agenda for Sustainable Development (2030 Agenda) and to reach the Sustainable Development Goals (SDGs).
The scope of World Bank Group –European Commission collaboration in the future of work is global and concerns, in the first instance, three focus areas:
- Boosting Skills
- Social Protection
- Creating more and better jobs
This collaboration will vary depending on the specific context, internal or external to the EU, and will be specifically tailored to regions/countries affected by fragility, conflict and violence, and on EU-defined policy recommendations (such as the European Pillar of Social Rights) within the EU. Resulting collaboration will be developed further in the framework of existing annual bilateral World Bank Group – European Commission DGs’ meetings as needed. A flexible and tailored approach will remain the hallmark of an effective response.
Original source: European Commission
Published on 04 February 2019
