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Cyprus

New jobs schemes for under 25s

Labour Minister Zeta Emilianidou will on Friday announce new schemes aiming at the employment of 5,000 young people for a period six months to acquire on-the-job experience.

The plan, which will cost €40 million was discussed during a meeting of the National Employment Committee on Thursday. It will be co-financed by the European Social Fund by 95 per cent.

Emilianidou said the first scheme concerned the employment of 2,500 university graduates either in the public or the private sector. This plans is already in force and will be renewed for another six months.

An additional scheme targets unemployed youth, graduates of secondary education or holders of post-secondary education diplomas to be employed for six months with a view to acquiring work experience while they will receive a monthly salary of €500 plus social insurance.

The minister added the plans provide for a period of one month for applications.

“I have received positive feedback from the private and public sectors both as regards the scheme`s performance as well as the interest shown by youths, and we are very happy that we could give them the opportunity to work and to receive an allowance while acquiring experience and new knowledge,” said the minister.

Youth unemployment – those under 25 – stands at 40.8 per cent. (CNA)

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