The £1bn scheme that aims to tackle youth unemployment, and was announced in the Chancellor's Budget last week, launches today. The Youth Contract Scheme will offer incentives worth more than £2,275 for each 18-24 year old that an employer offers a paid position to and will also create 250,000 work experience places.
Carmen Watson, Managing Director of Pertemps Network Group, said:
“A problem that many young people face when trying to enter the job market is a lack of experience, even if they have the abilities and ambition to succeed. Providing opportunities for young people to gain entry into jobs will offer a new glimmer of hope for 18-24 year olds, particularly those that have been out of work for long periods of time.
“Businesses that have plans to expand now have avenues to recruit among sections of society where there is a huge amount of potential. As a result, they now have the support to invest in the future of the nation’s workforce and also the future of their own businesses. Clearly, this scheme will just be one part of the solution to joblessness but as long as the issue of youth unemployment remains a priority, we will hopefully make steady progress. The Government says that it is determined to tackling youth unemployment. In this current climate, this determination should drive tangible results.”
Deputy Prime Minister Nick Clegg said:
"We're determined to tackle youth unemployment and set young people on the path to work before long-term damage is done. Today is a major moment for Britain's unemployed young people. The message is clear – if you're under 25 and don't have a job, we are putting the money in to get you earning or learning through the Youth Contract. If you want to work or train, then we – together with businesses – will help you."
The scheme is expected to put 410,000 young people into work over the next three years. The supermarket chain Morrisons, together with E-on, Phones4U, and Barclays, have agreed to invest the wage incentives they receive in charities which train up young people who lack the skills needed for the world of work.