€ 130 mln from EU to fund employment programmes
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.