Taiwan’s Cabinet yesterday approved the second phase of a cross-agency youth employment program, under which TWD 16 billion (USD 521.8 million) will be earmarked to help 800,000 young people obtain jobs over the next four years in industries experiencing labour shortage, reports Focus Taiwan. The second phase of the program, which will kick off in May and run until 2026, targets people aged 15-29, the Ministry of Labour (MOL) said in a statement, after the Cabinet approved the plan at its regular weekly meeting.

In 2022, the unemployment rate among Taiwan youth in that age group fell to 8.38%, the lowest since the 2008 financial crisis, as a result of the first-phase of the youth employment program that helped provide jobs to some 750,000 young people 2019-2022, the Ministry said. The TWD 16 billion (USD 521.8 million) allocated for the second phase of the employment program will be used to help approximately 800,00 young people obtain jobs in industries that have a manpower shortage, the ministry said. As part of 12 strategies and 48 measures devised jointly by various government agencies, career guidance sessions will be held on school campuses to help final-year students find opportunities that can eventually become full-time jobs.