DRAFT MINISTERIAL COMMUNIQU
2
}
(The Council of the OECD met on 2 and 3 June 1993 at Ministerial level. (The meeting was chaired by }. . . . {. The Vice-Chairmen were )..........{. Prior to the } (meeting, the Chairman led consultations with the Business and Industry Advisory } (Committee (BIAC) and the Trade Union Advisory Committee (TUAC) to the OECD; } (both organisations submitted statements for the consideration of Ministers.}
1.
Conditions propitious for a revival of growth in the OECD area are in place, and indeed improving. These include, in addition to long-term assets such as a strong knowledge and technology base, low inflation, declining interest rates, spare productive capacity, and progress in balance sheet adjustment. But in North America recovery so far is relatively muted, and in Japan and most of Europe, activity has slowed down markedly since the summer of 1992. Confidence generally is too low. Restoring confidence is the priority objective. To that end, Ministers agree on the following set of actions, which constitutes a comprehensive strategy for growth and employment.
REDUCING UNEMPLOYMENT:
2.
A CENTRAL GOAL
The number of unemployed people in the OECD area may reach 34 million by the end of this year and is unlikely to decline significantly before well into 1994. This represents enormous human and economic costs, compounds urban problems, and erodes social cohesion.
Confidence may remain elusive until
XX