The objective of this article is to discuss how the labor market can respond to challenges facing enterprises and workers during the crisis as well as the key ingredients of overcoming the crisis. Responses may be both of a macro and micro character. Following some introductory remarks, micro-level decent responses are introduced first. This is followed by examining national (macro) responses to the crisis, including financial and fiscal policy measures, labor market initiatives and social dialogue. The need for, and possibility of, coordinating through mutual adjustment at the national level increase especially in times of crisis, as the stakeholders come to recognize the necessity for system-wide solutions. Also, achieving consensus and comprehensiveness become more possible at higher levels. Thus, in the final analysis, stimulating economic recovery is important in making labor market adjustments with a view to prevent social crises and promote social cohesion, but the importance of taking adequate firm-level (using the terminology of the International Labor Office) “decent”, measures should not be overlooked either.
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