Up to £2,257 for each newly recruited employee aged 18 to 24 years. That is the amount of a wage subsidy prepared by the British government for employers to reduce the current alarming rate of unemployment among young people. Overall, the government set aside £1 billion to recruit up to 160,000 young people, People Management informed.
The subsidies are intended for companies that employ young people from April 2012. They will be paid in two stages - after 8 and after 26 weeks of employing the young person. Subsidies, even half lower, are prepared also for companies that will recruit young people to part-time jobs.
Deputy prime minister Nick Clegg sent a letter to thousands of employers from global companies to small local businesses to inform them about the possibility of obtaining the subsidies and encourage their interest in employing young people.