Why is a job guarantee needed?
The job guarantee is a robust, direct job creation approach which closes the existing jobs gap by providing decent employment on demand. While the private sector creates the majority of employment opportunities, it is neither its mission nor its responsibility to provide jobs for all. Conventional fiscal and monetary policies have failed to fill the jobs gap and full employment has lost its meaning.
Furthermore, in the current policy framework, unemployment is used for economic and price stabilization, which in turn creates structural precarity, economic insecurity, and social instability. The job guarantee is an alternative to the conventional approach that produces and accepts the large economic, social and political costs of unemployment. It is a landmark policy innovation, achieving the goals of full employment, economic stability, and social inclusion.
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