Speaking in the City Hotel in his home territory of Derry, Mr McGuinness told delegates:
"We need to use public spending smartly, ensuring that we get best value for it.
"That is why, in supporting local construction and other business sectors, we have demanded that contracts contain social clauses in regard to employment of the long-term unemployed and training for apprenticeships," he said.
Also underlining that political stability will provide "a bedrock for efforts to tackle the economic downturn", the Minister told the Irish Congress of Trade Unions, Northern Ireland Committee's Biennial Delegate Conference: "A key element in our efforts to improve the economy is the huge strides that have been made in providing a political stability on which we must build a better future for all our people."
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He added: "Just as political progress can only be attained by working together, so to the drive to improve our economy, protect jobs and encourage growth must be founded on partnership."
He also praised unions for the role that they had played in the Executive's efforts to address the local impact of the economic downturn through a consolidated package of measures brought forward through the Cross Sector Advisory Forum.
"The First Minister and I are acutely aware that this is not a time for complacency and hence we are continuing to make 'growing the economy' our top priority," he said.
Mr McGuinness concluded: "We all know that following the forthcoming election, we will see budget cuts.
"Our priority is to protect frontline services. Spending on public services is an investment in our communities; it is about delivering to those most in need.
"Those that work, for instance, in our health and education systems need to be protected - not have their jobs threatened."
(NS/BMcC)
