The Executive Council of the Irish Congress of Trade Unions is meeting to consider Government proposals on economic recovery, which were submitted to them last night.
The Executive of the employers' body IBEC is also meeting today to consider the proposals.
The Government told employers and unions that up to €1bn could eventually be made available to fund job protection measures as part of a recovery plan.
Central to the strategy would be a Temporary Employment Subsidy Scheme, to assist up to 30,000 workers whose jobs are in jeopardy.
The Government has also proposed measures to tackle problems with pensions, home repossessions and private sector pay.
On jobs, unions and employers had originally sought a €1bn fund to support workers in enterprises under pressure.
Last night, the Government said that total funding could eventually reach that, but did not set a timeframe for that allocation.
It would be conditional on the effectiveness of the employment subsidy scheme.
In the short term, it is prepared to make €250m available to support workers in vulnerable sectors, primarily manufacturing and internationally traded services.
Eligible enterprises would have to prove that they had not been in difficulty before last July, and would be viable in the future.
Employees would receive a subsidy of €200 per week for up to 15 months.
The Government has also set out a range of measures to support enterprise.
On private sector pay, the Government has proposed procedures to regularise the uncertainty surrounding the status of increases due under last November's national wage agreement.
One key feature is that where a union believes a company can afford to pay, it must provide evidence to support its claim.
Normally it is the company that must prove its inability to pay a national wage round.
Pensions Insolvency Payment Scheme
On pensions, the Government offered to provide €100m a year as part of a new Pensions Insolvency Payment Scheme to run on a pilot basis for three years.
It would assist workers in cases of 'double insolvency' where both the company and its pension fund are in serious difficulty.
Under the new arrangement, existing pensioners could get up to €12,000 a year from the fund.
Those who have not yet retired could receive up to half their entitlement to a maximum of €6,000 a year.
On mortgage repossessions, the Government also said it would work with the social partners to monitor and advise on any new policy required to help people with mortgage arrears should repossession rates increase.
On public sector reform, the Government said it was committed to a collaborative approach.
Leaving Government Buildings this morning, ICTU General Secretary David Begg said there was a poverty of ambition in the Government document.
Speaking on RTÉ's Morning Ireland, Mr Begg said he would have preferred a more energetic response from the Government to tackle the unemployment crisis.
Government sources said the Government is keen to secure viable solutions that reflect the current economic situation and the needs of the State through the partnership process.
Elsewhere, IBEC has also announced the appointment of its Head of Policy Danny McCoy as its new Director General.
Mr McCoy replaces Turlough O'Sullivan, who announced his retirement earlier this year.
