Since 1994, we have made steady progress in creating jobs, but clearly the rate of job creation has been too low to absorb the bulk of people seeking work. Sound macroeconomic performance combined with higher growth has contributed to rising employment since 1995. The problem has been that the increase in the labour force has outpaced the number of jobs created.
Ladies and Gentlemen: For maximum impact, these initiatives must be accompanied by effective institutional governance oversight arrangements – a responsibility over which you as HR Directors have a direct contribution.