The Council of Ministers approved the incentives for the recruitment of people from 25 to 29 years old
Authorization to the Minister of Labor, Welfare and Social Insurance Zeta Aimilianidou, so that he can make any amendments to this plan for purposes of co-financing by the European Social Fund
Incentive plan for the employment of young people from 25 to 29 years old who are out of employment, education or training was approved by the Council of Ministers at yesterday's meeting, under the President of the Republic Nikos Anastasiadis.
At the same time, the Council of Ministers gave the necessary authorization to the Minister of Labor, Welfare and Social Insurance Zeta Aimilianidou, so that he can make any amendments to this plan which he deems necessary for purposes of co-financing by the European Social Fund and / or other minor changes, as well as to any amendments required, as a result of the revision of the Minor Aid Regulations and where it deems appropriate, and to inform the Council of Ministers accordingly and / or to return the matter to it.
What the plan provides
The Incentive Plan provides for the provision of aid-sponsorships to employers for the recruitment, during the period of the invitation, of young people from 25 to 29 years old (29 years and 364 days), registered with the Public Employment Service (PES) who are out of employment, education or training.
The aid under the Plan concerns the provision of financial assistance to the employer amounting to 70% of the salary cost of the employee who will be hired with a maximum of 8 thousand 400 euros. The sponsorship will be granted for the first ten months of employment and with the obligation of the employer to maintain the employment of the employee for two additional months, without subsidy.
The said Plan was drawn up on the basis of a relevant Regulation of the European Commission of 18 December 2013 on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to de minimis aid.
Budget
The total budget of the Plan amounts to 6.700.000 euros and the goal is to place 800 unemployed people in the labor market. Applications from interested parties will be submitted in specific time periods, which will be specified in the invitations announced by the Managing Authority.
In case the amount of the budget is exhausted, the Plan will end with an announcement in the daily press.
Slight decrease in unemployment
It is recalled that unemployment decreased slightly in February 2017, as evidenced by data announced earlier this month by the European Statistical Office. According to the data, the unemployment rate in Cyprus rose in the second month of the year to 12,9% from 13,1% in January and 13,4% in February 2016. The unemployment rate among young people (under 25) reaches 30,4%.
Recruitment of Lifeguards
Also, the Council of Ministers approved the recruitment and employment by Municipalities and Communities of a total of 12 additional seasonal hourly paid Lifeguards, for the purpose of adequate staffing of Lifeguards, with the aim of providing maximum security to bathers and protection of the tourist product. It is noted that 50% of the expenditure will be paid to the Municipalities and Communities by the State through the State Sponsorship, from credits that will be found and allocated for this purpose by the Minister of Finance.
Source: Today