The director general of the HRDA, George Panagides, said that based on reviews carried out by the authority, the percentage of young graduates who remain employed after the six-month training period is 50 per cent.
According to HRDA projections, prepared on the basis of macroeconomic forecasts of the Troika and the ministry of finance and based on new developments such as the discovery of natural gas and the creation of a casino resoirt, it is expected that in the next ten years around 13,000 jobs will be created, of which 4,600 will be new jobs and the remaining 7,700 will be positions arising from permanent withdrawals from the labour market.
Emilianides noted that in February 2009, the HRDA
implemented a Special Prevention-Action Plan at an estimated cost of EUR 65 mln with the number of participants to date reaching 39,000.
predicted that the annual demand over the period 2014-2024 will reach 12,966 persons with the average annual rate reaching 3.
Charalambous also referred to the HRDA special prevention scheme to deal with the economic crisis, which was implemented in February 2009 and aims at preventing and combating unemployment.
3 per cent of participants in the HRDA schemes are currently employed
The HRDA also gets about 120 applications a month from employers hiring other jobless workers with similar subsidies on their wages.
However, there could be no comparison with the rest of the EU as Eurostat has yet to come up with a study based on the criteria that HRDA has devised.
As a result, the coming decade is expected to see 69,000 new job positions open -- 32,000 by 2015 and another 37,000 by 2020, HRDA
With the new schemes, the total funds available from the Ministry and the HRDA
for supporting employment will reach e1/421 million in 2010," Charalambous said.
The funds available to support employment from the ministry and the HRDA
will reach e1/421 million in 2010, Labour Minister Soteroulla Charalambous said.