France has become the first EU country to receive funding from the Youth Employment Initiative YEI to tackle unemployment among young people. The European Commission will make funding available so that France can receive €620 million from the YEI and the European Social Fund ESF.
The money will go towards helping young people who not in employment, education or training the so-called NEETs to find a job in those regions where youth unemployment rates over 25%.
It is the first programme adopted in the EU under the €6 billion funding initiative, covering 20 member states. Currently, around 5.6 million young Europeans are jobless, 650,000 in France alone.
László Andor, the commissioner for Employment, Social Affairs and Inclusion, said in a statement that with the adopted programme, the YEI will benefit approximately one million young French people currently out of work, education or training.
Chosen excerpts by Job Market Monitor. Read the whole story at France to jumpstart Youth Unemployment Initiative funding | EurActiv.
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