"The primary feature of this package is a new Youth Jobs Grant, which offers employers £3,000 for each 18 to 24-year-old they hire, provided that the individual has been claiming Universal Credit and actively seeking work for at least six months. Projections suggest that this program will aid approximately 60,000 young people over the next three years."
"Additionally, ministers are expanding the eligibility for the Jobs Guarantee scheme. The age range will now encompass all 18 to 24-year-olds, rather than just those aged 18 to 21. This change is expected to create over 35,000 additional subsidised positions, raising the total number of positions supported by the program to more than 90,000."
"Moreover, small and medium-sized enterprises will receive a £2,000 incentive for each new apprentice aged 16 to 24 that they hire. This initiative aims to help the government meet its target of establishing 50,000 new apprenticeships."
The Department for Work and Pensions announced a comprehensive £1 billion initiative to address rising youth unemployment, with nearly one million young people currently outside education and employment. The package includes a Youth Jobs Grant providing £3,000 to employers hiring 18-24 year-olds who have claimed Universal Credit for six months, projected to help 60,000 young people. The Jobs Guarantee scheme expands eligibility to all 18-24 year-olds, creating over 35,000 additional subsidised positions. Small and medium-sized enterprises receive £2,000 incentives per apprentice aged 16-24. The total £2.5 billion investment over three years aims to support nearly one million young individuals and establish 50,000 new apprenticeships.
Read at London Business News | Londonlovesbusiness.com
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