The Youth Employment Act grants a subsidy to private companies hiring young people, announced Daniel Olesker, the minister of Social Development.

After the Council of Ministers, the Minister of Social Development announced a 2 million dollar investment on subsidies that would be equivalent to 4.000 and 5.000 annual jobs.
The presidency informs that the three categories foreseen by the regulation are: a subsidy for highly vulnerable population, up to one year long internships for graduates with a subsidy of 15% on their wages and hiring young people from 14 to 29 years old with a subsidy that reaches up to 25% of their wages.

The salary of young people hired by a company will receive up to 15% subsidy; an additional 2% will be granted if the worker is a woman; another 4% if the worker comes from a vulnerable home; and, finally, another 4% if the company provides training to the worker.

Article elaborated with information from Espectador.com.