Saturday, February 12, 2011

Spain Creates Tax Break for Hiring as Jobless Rate Among Youth Exceeds 40%

The Spanish government created tax breaks to encourage hiring young people and the long-term unemployed in a bid to lower the 43 percent youth jobless rate.

Companies will get a reduction of 75 percent to 100 percent in social-security taxes for offering part-time work to people up to 30 years old and the long-term jobless, Labor Minister Valeriano Gomez told a news conference in Madrid today. The incentives last a year in an attempt to spur employment in 2011. - Bloomberg


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