BUSINESS IN SHORT

Youth employment projects launched

THE UNDER-29s could see their chances on the labour market improve, according to the Labour Ministry, which is planning to launch two pilot projects to support the creation of new positions for young jobseekers in November 2013, the SITA newswire reported.

THE UNDER-29s could see their chances on the labour market improve, according to the Labour Ministry, which is planning to launch two pilot projects to support the creation of new positions for young jobseekers in November 2013, the SITA newswire reported.

One of the projects will support job formation in the private sector and among non-profit organisations and will cost €50 million, while the other project, encouraging regional and local governments to hire jobseekers, will cost €20 million. Both projects will be financed from EU funds and should support 13,800 jobs, via local labour offices.

The project targeted at the private sector and non-profit organisations is supposed to motivate employers to hire jobseekers aged under 29 and over 50 by paying, via labour offices, a contribution for each person hired in these age categories.

The target is to create and maintain 9,100 jobs. The state contribution per employee will be just over €430 per month and will be provided for 12 months. Employers will be obliged to maintain the job for a further six months at least.

The project for local and regional governments is to support employment of jobseekers in the same age categories. The state plans to support the creation of 4,700 jobs via the project.

Villages, towns or self-governing regions will have to conclude a full-time work contract for a defined period of at least 12 months with an unemployed person in order to qualify for financial assistance for at least six months; or for a defined period of 18 months, in which case contributions will be provided for a maximum of nine months. The project will pay the employer a monthly contribution of just over €455 per employee.

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