The government aims to reach 25,000 young people. Corporate Support assumes a permanent contract and a minimum salary of €1,330. Instability is declining, but “there’s a lot to do”

The Minister of Labour, Solidarity and Social Security, Ana Mendes Godinho, announced that the “Avankar” program to support youth employment will begin on July 1 during the hearing in the Commission on Employment, Social Security and Inclusion. The government aims to reach 25,000 young people with permanent contracts.

Supporting companies within the scope of this program assumes that the young professional has a permanent contract and a salary of at least 1,330 euros, with an award of 150 euros, which is “paid directly to the young person”, promotes the administrator .

Avançar Program, which aims to combat youth employment instability, to the social partners at the end of March. Companies hiring eternal youth can receive financing between €8,600 and €12,400, plus discounts on contributions. The scholarship is awarded by the IEFP.

Instability recedes, but “there’s a lot to do”

Portugal’s job instability rate has been declining, at 17.1% in the first quarter, but still above the European average. Valor shows that there is “a lot to do and work on”, because Portugal continues to “at a rate above the European average, both in general and in terms of youth”, admits Ana Mendes Godinho.

Until April, the number of workers registered with Social Security increased by 180,000 (+4.9%) compared to the first four months of last year, in addition to more than five million workers registered at the end of last year, in addition to a million comparisons. To 2015, the official stated during the hearing.

The Minister acknowledged that despite this increase, there was still work to be done in terms of combating job insecurity. The rate in the first quarter was 17.1%, an improvement over the 21.3% recorded in 2019.

Although the number for the first quarter of this year is a “significant drop” compared to pre-pandemic, the fragility rate “still shows” that there is “a lot to do and work on.”

Ana Mendez Godinho also highlighted the drop in the rate of young people who are neither working nor studying (the so-called neither nor youth), to 8.9% at the end of last year, which is “almost half the value of 2013”. “We are very close to achieving the European goal for 2030,” he explained.

Sustainable social security until 2060

The minister pointed out that the increase in the number of registered workers, as well as the increase in the announced average wages, led to positive gains for the Social Security Stabilization Fund. “We’ll get to 2060 without being completely sold out,” he says. And he adds, “Taking into account the current assumptions, the fund will reach the year 2060 not only depleted, but with a balance of 48 billion euros,” noting that in 2015, projections indicated that the fund was depleted at the end of the 1990s. 30, a situation that he says “gives confidence to future generations.” “.

He says that the positive balance “is the result of an unambiguous policy of betting on increasing income.” “We do not want it to be situational, but structural,” the minister said to the Liberal Initiative deputy, Carla Castro, referring to the “structural” bet on increasing the minimum wage, saying that “we are learning a lesson, with proven data, that this is the way.”

“Let’s hope there are no new ghosts of austerity, because we’ve already seen that it doesn’t work.”