Abstract
There is currently a debate as to whether labour market policy would serve its economic and social goals better by concentrating on its core business or by widening its perspective. Should the goal of employment and training policy be purely the efficient functioning of the labour market, or should it serve wider economic and social purposes? In a globalised economy, labour market policy has a unique contribution to make in tackling a wide range of issues, from attracting and retaining talent to enhancing the competitiveness of local firms. Labour market institutions can have a significant impact in these areas given their unique capacity as a source of expertise, programmes and services and their presence throughout the national economy and at a number of layers within the administration. However to achieve this, a new broader goal for workforce development has to be set: The comprehensive management of human resources, so as to meet better the demands of a global economy through improving economic competitiveness and social cohesion.
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