France pledges 500m euros to get students jobs
Manuel Valls, French Prime Minister, has unveiled 11 new measures which aim to help France’s struggling younger generation and assist them to find work which has proved difficult in recent times.
deVere France understand the measures will cost the government close to half a billion euros, and will be explicitly targeted towards young, disadvantaged people who have found it hard to get accommodation, qualifications and traction in the notoriously tough job market, or even access to health care.
They were announced following weeks of protests against a controversial labour laws bill which makes it easier for firms to sack and hire workers, in the hope it will lower unemployment, which stands at over 10% and 25% for young people.
Valls put the plans to a conference of eight youth organisations that are battling the reforms, including UNEF, the largest student union.
UNEF applauded the new proposals, saying they were "a genuine response to young people's demands" but did not rule out joining the next major protest on April 28th.
Here are the key measures Valls announced on Monday.
• Businesses will have to pay higher taxes on temporary work contracts known as CDDs to try to get firms to employ staff on permanent CDI contracts, which are becoming harder and harder to find in France.
• In an attempt to help young people gain qualifications, places will be set aside at France’s 116 IUTs, which are attached to universities. The number of BTS diplomas, which offer a fast entry to the jobs market, will also be increased.
• Another plan is for recent graduates of modest means to receive a four-month extension to their study grants to support them until they find work. The government understands 126,000 young people could benefit in September 2016, costing the government €130 million over a full year.
• The salaries for selected apprenticeships will be increased in 2017 with the government coughing up €80 million to cover a rise in the minimum wage for 16 to 20-year-olds.
• The “youth guarantee”, which allows less affluent youths to claim a monthly amount of €460 and help in finding work or training, will be extended in 2017, for all those young people in undesirable situations.
• A fund that offers grants for high school students will also be injected with more cash to reach €28 million, with the average yearly grant rising to €697.
• A further €25 million will be made available to open 25,000 new scholarships for 1,000 more poorer students, who would usually have no access to financial help other than being exempt from the costs of university sign-up fees.
• The government will create 12,500 new grants of €1,000 in September 2016 to help school drop outs get back into education.
• When it comes to helping young people find accommodation, the government wants to create a universal rental guarantee for under 30s. The cost of this measure is aimed at €100 million per year and will be covered by the social security system.
• The state will also accelerate the process that allows young people without jobs to gain access to the CMU-C universal health care, which could cost up to €20 million.
If you have just graduated from university and would like a career in France, contact deVere Group today to find out about our opportunities as a financial adviser.
Manuel Valls, French Prime Minister, has unveiled 11 new measures which aim to help France’s struggling younger generation and assist them to find work which has proved difficult in recent times.
deVere France understand the measures will cost the government close to half a billion euros, and will be explicitly targeted towards young, disadvantaged people who have found it hard to get accommodation, qualifications and traction in the notoriously tough job market, or even access to health care.
They were announced following weeks of protests against a controversial labour laws bill which makes it easier for firms to sack and hire workers, in the hope it will lower unemployment, which stands at over 10% and 25% for young people.
Valls put the plans to a conference of eight youth organisations that are battling the reforms, including UNEF, the largest student union.
UNEF applauded the new proposals, saying they were "a genuine response to young people's demands" but did not rule out joining the next major protest on April 28th.
Here are the key measures Valls announced on Monday.
• Businesses will have to pay higher taxes on temporary work contracts known as CDDs to try to get firms to employ staff on permanent CDI contracts, which are becoming harder and harder to find in France.
• In an attempt to help young people gain qualifications, places will be set aside at France’s 116 IUTs, which are attached to universities. The number of BTS diplomas, which offer a fast entry to the jobs market, will also be increased.
• Another plan is for recent graduates of modest means to receive a four-month extension to their study grants to support them until they find work. The government understands 126,000 young people could benefit in September 2016, costing the government €130 million over a full year.
• The salaries for selected apprenticeships will be increased in 2017 with the government coughing up €80 million to cover a rise in the minimum wage for 16 to 20-year-olds.
• The “youth guarantee”, which allows less affluent youths to claim a monthly amount of €460 and help in finding work or training, will be extended in 2017, for all those young people in undesirable situations.
• A fund that offers grants for high school students will also be injected with more cash to reach €28 million, with the average yearly grant rising to €697.
• A further €25 million will be made available to open 25,000 new scholarships for 1,000 more poorer students, who would usually have no access to financial help other than being exempt from the costs of university sign-up fees.
• The government will create 12,500 new grants of €1,000 in September 2016 to help school drop outs get back into education.
• When it comes to helping young people find accommodation, the government wants to create a universal rental guarantee for under 30s. The cost of this measure is aimed at €100 million per year and will be covered by the social security system.
• The state will also accelerate the process that allows young people without jobs to gain access to the CMU-C universal health care, which could cost up to €20 million.
If you have just graduated from university and would like a career in France, contact deVere Group today to find out about our opportunities as a financial adviser.