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Peru Finance Minister: Youth Employment Law is "very good" for youngsters

LIMA-NOVIEMBRE,06.Conferencia de prensa del ministro de Economía y Finanzas, Alonso Segura.Foto: ANDINA/Carlos Lezama

LIMA-NOVIEMBRE,06.Conferencia de prensa del ministro de Economía y Finanzas, Alonso Segura.Foto: ANDINA/Carlos Lezama

11:04 | Lima, Dec. 22.

Finance minister, Alonso Segura, assured today the New Youth Employment Law is “very good” for Peruvian youth because every 9 out of 10 workers, aged 18 – 24, lack work benefits.

There are 2.5 million people in the aforementioned age range in Peru, the minister said.

Of those, one third are informal workers; the other third independent workers, and 10% are employed, the minister emphasized.

“600,000 youngsters are considered in some labor regime […] Around 250,000 have access to full benefits,” he claimed.

The labor regimes available in the country do not favor youth because they “lack work experience”, he expressed

The law has been under fire by the opposition. However, the Peruvian government has warned “there is no turning back”.

The Youth Employment Law, enacted by the Peruvian President Ollanta Humala, aims at reducing considerably unemployment in this particular group of the population, which has been exploited for years, said Peruvian Labor Minister Fredy Otarola.

The regime will last for three years and will train youth in the work field. It includes social insurance benefits.

(END) RGP/ASH/MVB


Published: 12/22/2014
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