Madrid's My First Job program receives 1.5 million euros in financing

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The Government of the Community of Madrid will allocate 1.5 million euros to finance the aid provided for in the My First Job program, whose objective is to encourage the hiring of young people under 30 who do not have previous work experience or are unemployed long-lasting.

These new grants, approved last July and now receiving their first financial endowment, reinforce the measures included in the Madrid Strategy to fight youth unemployment and are co-financed by the Youth Employment Initiative and the European Social Fund.

Enterprises, companies, and private non-profit entities based in the Community of Madrid that hire young people under 30 years of age for a minimum period of six consecutive months may benefit from these direct subsidies.

The contracted must be registered in the File of the National System of Youth Guarantee and lack work experience, or be in a situation of long-term unemployment.

My First Job offers two lines of aid to the self-employed and companies that they hire fulfilling these requirements. Thus, they will receive 1,000 euros for formalizing a contract of at least six months full time, an amount that will increase by 500 euros when the employment relationship is formalized with women or people belonging to the trans collective.

In addition, with the aim of encouraging stable employment, a subsidy of an additional 3,000 euros is offered for those employers who transform that initial contract of at least six months into a full-time indefinite.

Applications to receive these grants must be submitted within one month of the new worker's Social Security discharge.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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