The measures included in the Youth Guarantee aim to combat the phenomenon of youth unemployment in Europe. At the time of its launching the programme the youth unemployment was one of the main unsolved problems of the European economy as a whole and, specifically, even more so than the economic and social systems of some member states. Italy, Greece and Spain, with youth unemployment rates between 40% and 50%, represented the most emblematic cases of the problematic nature of the phenomenon. 5.7 million young people, throughout Europe, were unemployed by 2013.
Once the initial financial allocation was completed at the end of 2016, the European Union proceeded to refinance the Youth Guarantee program for the 2017-2020 three-year period for a total amount of 1.3 billion euros. A substantial part of this amount - to be precise Euro 343 million - was allocated to Italy. On the basis of the renewal of the funding, the Italian Government was therefore able to continue the active policies aimed at fighting youth unemployment, trying to improve its implementation where possible. In Italy, the implementation of the concrete measures included in the Youth Guarantee program is entrusted to regional competence:
- Job placement;
- Education or training;
- Self entrepreneurship;
- Civil service.
Youth Guarantee program, in addition to being a relevant channel in the job search for young people, is a source of numerous advantages also for companies .
- For open- ended contracts , companies receive a bonus of between € 1500 and € 6,000, in consideration of the employability of the newly employed young person.
- For temporary or temporary employment, the bonus for companies is between 1500 and 4000 euros. The exact quantification of the bonus is based on the profile of the young person, the duration of the contract and territorial differences.
- For the first level apprenticeship, aimed at qualification and professional diploma , companies can enjoy an incentive between 2000 and 3000 Euros, based on the age of the young person.
- For the III level apprenticeship, aimed at High Education and Research , a bonus of € 6,000 for the activation of the contract is provided.
- For traineeships there is a minimum allowance of 300 Euros paid by the Region directly to young trainees or reimbursed to the company against the compensation paid by this to the trainees.