Govt approves incentives for new hires under 30

An experimental measure to boost youth employment

Govt approves incentives for new hires under 30

Rome, June 26 - A cabinet meeting on Wednesday approved measures to curb Italy's rampant youth unemployment through tax cuts for companies hiring workers between 18 and 29 years of age. A government decree introduces tax cuts of up to 650 euros a month per worker for a maximum period of 18 months for new hires and 12 months for employees whose short-term or freelance contracts become open-ended. The measure focuses on people under 29 without a high school degree, who have been without a regular job over the last six months, are living alone or are supporting at least another person. Italy's jobless rate has hit a record high of 12% and around four in ten young people aged 15-24 are out of work.

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