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Six billion euros to tackle Lithuania youth unemployment

Dec 13, 2013
From wire reports, VILNIUS

Six billion euros will be poured in to to tackling youth unemployment over six years in Lithuania, reports ELTA.

"The key aim of the Youth Guarantees is to ensure that all young people under 25 get a good-quality, concrete offer, including job, apprenticeship, traineeship, within 4 months of them leaving formal education or becoming unemployed," said Lithuanian Minister of Social Security and Labour Algimanta Pabedinskiene.

In October 2013, 5.657 million young persons (under 25) were unemployed in the EU, of whom 3.577 million were in the euro area, shows Eurostat. 

In October 2012 youth unemployment decreased by 29,000 in the EU, but increased by 15,000 in the euro area. In October 2013, the youth unemployment rate was 23.7 percent in the EU and 24.4 percent in the euro area, compared with 23.3 percent and 23.7 percent respectively in October 2012.

Meanwhile, in October 2012 the seasonally-adjusted youth unemployment rate in Lithuania was 25.2 percent, while in October 2013 it has decreased to 22.2 percent.

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