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May 7, 2021

Can EU ‘social pillar’ boost employment post Covid?

By Paul Dennis

7 May

Adam Tooze, director of European Institute, shared an article on Brussels’ new action plan aimed at implementing a social pillar in Europe in three key areas of employment, skills and poverty.

The plan aims to increase the employment rate for people aged between 20 and 64 years to 78% from the current 73%, while ensuring that 60% of adults are involved in some training each year.

The plan also aims to reduce the number of people at risk of poverty by 15 million.

Brussels intends to present the action plan at the Social Summit in Porto, Portugal. The article noted that expanding the social pillar can improve employment rates and competitiveness of the economy.

Europe has already demonstrated its economic resilience during the pandemic, compared to the US and UK, with its pre-existing welfare schemes.

A social model can act a engine for productivity as it boosts employment, offers  flexibility to shift to new jobs and enables quick adoption of technology.

Read more

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