ECONOMY

Subsidies aimed at reducing 39% youth jobless rate

subsidies-aimed-at-reducing-39-youth-jobless-rate

Τhe Labor Ministry will try to bring down the unemployment rate among young people, which in November reached 39%, the highest in the eurozone, with the introduction of a subsidized net salary of 570 euros for the first six months of full-time employment of 18- to 29-year-olds.

The program is expected to benefit some 40,000 young people who enter the workforce over the course of 2022, and concerns gross subsidies of €1,200 over the first six months, with half of that going to their employers.

The measure also concerns part-time workers (mainly students), with half of the above subsidy made available to them.