European Pillar of Social Rights

The European Pillar of Social Rights (EPSR, ) is an initiative of the European Commission. The EPSR is intended to launch comprehensive reforms of the European labour markets and social systems. The 27 Member States and the UK are committed to common minimum standards, including fair wages, unemployment assistance and reasonable pensions in a declaration made at a summit in Gothenburg on 17 November 2017. 
History.
The initial preliminary draft of the EPSR was published by the European Commission in March 2016. This was followed by a consultation process with the Member States, authorities, social partners and citizens of the EU: the consultation process was officially concluded with a high-ranking Commission conference in Brussels on 23 January 2017.
Contents.
The EPSR contains a preamble and 3 chapters with target values for 20 fields: 
The EPSR is intended to act as a reference document of sorts, by means of which the labour markets and social standards in the Member States may approach the standards defined in the Pillar in the long term.
Further development.
In March 2018, the Commission proposed the establishment of a European Labour Authority as a specific measure to implement the EPSR and to enable self-employed workers to access social security.
Criticism.
Whether and in what form the EPSR will actually be implemented remains to be seen. While the initiative was generally welcomed, there was also considerable criticism. The Member States fear a shift in competences to the benefit of the EU and/or European Commission and therefore insist on compliance with the principle of subsidiarity. 
The Member States are not under any obligation to implement the EPSR.
Several governments are concerned that it will put an additional burden on national state budgets (e.g. through higher social benefits). Trade unions maintain that the initiative does not go far enough, while employer associations criticise that the EPSR would make the EU less competitive.