21st October 2013

Ministry of Labor: further financial subsidy for youth employment

The Ministry of Labor announced that it would designate further money for youth employment. The financial subsidy was primarily intended for the so-called kurzarbeit promotion. The aim of the kurzarbeit system is state subsidy for heavily affected firms in order to keep labor positions and decrease unemployment. The strategy of kurzarbeit has been launched last year by the previous government. However, there has not been such demand by firms as the Ministry expected. Therefore after tripartite negotiations, the Ministry of Labor announced that the intended money would be newly designated for promotion of youth employment (graduates). Employees 30-years-younger comprise 30 per cent of jobless persons. The Ministry designates 250 million of CZK for youth employment. Beside that, the Ministry also keeps 140 million of CZK for kurzarbeit promotion.  
For further information, click here (press release).

Members of the American Chamber of Commerce in the Czech Republic