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News from the financial sectors in Spain and the Canary Islands
   News from the financial sectors in Spain and the Canary Islands

Cash for jobs
Firms in the Canaries have been offered a financial incentive to give jobs to people who have been out of work for more than six months.

02.09.2014 -

In its latest drive to kickstart the job market, the Canarian government announced that it will pay €4,500 directly to employers who help take the long-term unemployed off the jobless queues.  Jobs minister Francisca Luengo said the system effectively meant that someone who has been out of work for at least the specified period comes with, "a cheque in their pocket" to reward an employer who offers a permanent contract.  €2,500 will be paid to firms who offer a fixed-term contract.  The cheques may not be used to recruit relatives and the hiring must not be offset by making existing staff redundant.  "The aim of the scheme is to make those who have been out of work for six months or more attractive to employers," said Luengo, who revealed that over one hundred expressions of interest had been received in the first 24 hours since the scheme was launched.


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