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Government unveils youth jobs subsidy

25 November 2011
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Government unveils youth jobs subsidyCareers in operations management may await young people given a chance to turn around their career and life prospects by a new government initiative.

Deputy prime minister Nick Clegg and employment minister Chris Grayling have unveiled a new £1 billion scheme that will see nearly half a million people aged between 16 and 24 being helped to get into work.

This will include 250,000 work experience places becoming available in the next three years, with at least 100,000 of these being generated each year.

And it will see 160,000 job subsidies being created worth £2,275 to each business per youngster taken on, which cover national insurance contributions and exceed the amount of support for firms the Confederation of British Industry (CBI) called for.

Reflecting on the development, the CBI director-general John Cridland expressed his delight at hearing ministers had taken its ideas on board.

He stated: "It will encourage firms to take a gamble on a young inexperienced person and help tackle the scourge of youth unemployment."
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