Italian Government Unveils Reform to Boost Employment and Reduce Unemployment with a 100 Euro Allowance

The Italian government is set to implement a reform aimed at boosting employment growth and reducing unemployment. As part of the Cohesion decree, employees will receive a 100 euro allowance on their paychecks from January 2025. To qualify for this allowance, individuals must have a total income of no more than 28,000 euros, with a spouse and at least one dependent child, or for single-parent families with a single dependent child. Initially, there were talks of including a bonus in the thirteenth paycheck, but this has now been replaced by a direct allowance.

The legislative decree presented by Prime Minister Giorgia Meloni and economic ministers outlines measures to support employment growth by targeting young people, women, and disadvantaged workers. One of the key provisions includes reducing social security contributions for new hires for two years. Additionally, there are specific incentives to promote the establishment of new businesses in the Centre-North and South regions.

This reform is the first of seven additions to the revision of the Pnrr approved by the European Commission in December. It aims to expedite the implementation of European cohesion policies for the period of 2021-2027, focusing on crucial sectors that require infrastructural development to enhance competitiveness and attractiveness. With significant funding allocated to Italy, particularly the South, it aims to reduce unemployment and inactivity while fostering economic growth.

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Overall, this reform presents an opportunity for Italy to address pressing economic challenges while promoting sustainable growth through targeted interventions that prioritize vulnerable groups and critical sectors.

In summary:

The Italian government is set to implement a reform aimed at boosting employment growth and reducing unemployment through targeted interventions aimed at young people, women, disadvantaged workers