You can have social capitalism without significant unemployment. Then you use the Keynesian model and invest in public jobs in a recession, even if it means breaking the budget for a short time.
The increased state borrowing was paid for again by the state receiving extra income during the next boom. So in booms they saved and in downturns they borrowed. This model used i.a. Sweden successfully from the end of the Second World War until 1990. Until 1990, Sweden usually had unemployment closer to a maximum of 2%.
But the right believes that this pushes up wages and working conditions too much. Therefore, they want inflation-fighting unemployment so that workers and their support organizations will hold back demands for wages and working conditions. Read more about this here.