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Labor ministers of the Group of Eight (G8) sat in Moscow on Tuesday, discussing employment and labor markets in different countries.

The ministers adopted Chair's Conclusions on "Productive Employment as a Factor of Economic Growth and Social Integration" after the two-day session.

They emphasized the need to achieve widespread prosperity and promote social equity, fairness, and justice in developing labor markets that combine flexibility with security, to respond to the challenges of globalization and demographic change. This requires the active coordination of sound macroeconomic policies with adequate and effective social protection.
 
Globalization, more intense economic competition, demographic changes and rapid technological, institutional and managerial innovations have had significant effects on labor markets throughout the world.

Ministers agreed on the need for a strategic approach in order to meet these challenges as they also provide opportunities to create more and better jobs, greater inclusion and sustainable economic growth.

Ministers highlighted the issue of lifelong learning, which should be an integral part of national employment strategies. They encouraged governments and social partners to cooperate to make lifelong learning available to the greatest degree possible, thus improving the adaptability of workers to the changing patterns of labor markets.

Germany will host the 11th Conference of G8 Ministers of Labor and Employment in 2007.

(Xinhua News Agency October 11, 2006)