The Action Plan on the European Pillar of Social Rights (EPSR) and the Porto Social Summit have created a momentum for the enhancement of the social dimension of the European Union (EU), but, so far, without much to show by way of innovation. The EU should further expand the legislative agenda in the social and labour fields in order to address the risks of precariousness and degradation of working conditions faced by numerous workers in several sectors. The role of the EPSR and of the Social Scoreboard within the European Semester should also be significantly reinforced, so as to establish binding social safeguards supporting the betterment of working and living conditions. A highly crucial challenge for EU policymakers is to ensure that the recovery strategy and the digital and green transitions, beside contributing to job creation, also result in better social standards and good-quality professional opportunities.