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Government will subsidize up to 55% of the salary of young workers to boost their hiring

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Within the Plan to Promote Economic Growth, called Impulso Perú, prepared by the Ministry of Economy and Finance (MEF), includes several temporary support measures for vulnerable households, one of them to promote the generation of youth employment.

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Thus, the Executive Power will seek, through a bill, to implement a temporary employment program for the hiring of young workers, which would imply a cost of S/ 300 million.

In detail, this initiative consists of a economic incentive for the hiring of formal workers between 18 and 29 years old, with lower incomes or up to S/ 1,600, differentiating subsidies by gender and term of the contract. This economic support would be between 17.5% and 55% of the worker’s salary.

“Although it is true that details are being refined, basically what we want is to generate incentives for hiring, it is going to be a subsidy to job creation, focused on this segment of young workers and conditional on training. We want to add some gender issues, taking into account that the pandemic has generated unequal effects, both in men and women”, explained the Deputy Minister of Economy, Alex Contreras, during the presentation of the Impulso Perú plan.

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Source: Larepublica

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