01.09.2023

BGN 188 MILLION TO SUPPORT YOUTH EMPLOYMENT

Employers who hire young trainees up to the age of 29 on a permanent employment contract will receive the insurance funds for the first six months. This foresees a new project under the "Youth Employment Plus" measure, which will be implemented with BGN 188 million under the "Human Resources Development" program 2021-2027, the Ministry of Labor and Social Policy announced. The condition for using the incentives is that the contract is for a position that matches the intern's qualifications for the same or better compensation.

The main goal of "Youth Employment Plus" is to increase the competitiveness of unemployed and inactive young people aged 16 to 29 by facilitating their transition from education to employment, the Ministry of Social Affairs specified. At least 15,200 people, including long-term unemployed youth, are expected to be covered in internships, on-the-job training or subsidized employment.

For the first month of their inclusion in project activities, they will be provided with funds for public transport to and from the workplace. Within days, a contract on the measure is expected to be signed between the Managing Authority of the Human Resources Development Program and the Employment Agency. This is how the support for unemployed youth will continue, as the current project "New Opportunity for Youth Employment" under the Operational Program "Development of Human Resources" 2014 - 2020 with a budget of over 161 million BGN will end in September.

Unemployed up to 29 years of age had the option of doing an internship for 6 to 9 months, engaging in on-the-job training with a mentor for up to 6 months, or starting a job for up to 9 months. Nearly 39,000 people participated in the activities, with more than half remaining employed by the same employer after subsidized employment ended.