€ 130 mln from EU to fund em­ploy­ment pro­grammes

Financial Mirror (Cyprus) - - FRONT PAGE -

Labour Min­is­ter Zeta Emil­ian­idou said that EUR 130 mln from the Euro­pean So­cial Fund will be used to fund the Min­istry?s 2016 pro­grammes for the re­duc­tion of un­em­ploy­ment with the aim be­ing to re­duce youth and long-term un­em­ploy­ment rates.

She said that a fur­ther 13,000 new hjobs are ex­pected to be cre­ated over the next decade, based on the new needs of the econ­omy, as de­vised by the Hu­man Re­source De­vel­op­ment Au­thor­ity (HRDA).

Most of these will be in the energy sec­tor, as well as new ser­vices ar­eas, such as the casino re­sort and pre­mium hos­pi­tal­ity. She noted that the Min­istry is plan­ning to an­nounce be­fore the end of this year more pro­grammes for un­em­ployed per­sons who will be trained to be­come reg­is­tered car­ers.

HRDA Di­rec­tor Gen­eral Ge­orge Panayides said that ac­cord­ing to the as­sess­ment sur­veys con­ducted by the Au­thor­ity, 50% of the new grad­u­ates con­tinue to be em­ployed af­ter the first six months.

About 25% of these have re­mained with the em­ployer who signed up for the six-month sub­sidy pro­gramme, while many have moved else­where as they were placed in the public sec­tor, where per­ma­nent em­ploy­ment op­por­tu­ni­ties are frozen in ac­cor­dance with the mem­o­ran­dum with the troika of in­ter­na­tional lenders.

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