The government recently introduced a new system entitled “First Hire Assistance,” aiming to give financial support to businesses that hire young, inexperienced workers via financial compensation. Youth unemployment is becoming a critical issue as the country cannot afford another wave of emigration of its young skilled workers. (Ref. 130250)
Insufficient former system. In July 2010, Lithuania already set up a system to boost the recruitment of – experienced and inexperienced – jobseekers under the age of 29 in order to combat youth unemployment, which exceeded 30%. Businesses’ social contributions were cut, in average, from 31 down to 7.7%.
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