According to the data on Cyprus, 19.8% of the youth population aged 15-24 not in employment, education or training was reached by the Youth Guarantee, in their effort to start their own business venture. Moreover, 8.3% of young unemployed people benefited from the programme. The Commission says that €11,572,101 were allocated for Cyprus from YEI and were matched by the same amount from the European Social Fund. Moreover 1,500 persons took part in YEI-supported actions and 895 have completed a YEI operation.
On EU-level, the measures and reforms implemented under the Youth Guarantee have made a difference in the lives of more than 9 million young people, said Commissioner Thyssen.
The Youth Guarantee is a political commitment taken by all EU Member States in the form of a Council recommendation of April 2013, following a proposal from the Commission, to give every young people a good-quality offer of employment, continued education, an apprenticeship or a traineeship within a period of four months of becoming unemployed or leaving formal education.
The Youth Employment Initiative is the main EU funding programme initiated at the same time to facilitate the roll-out of the Youth Guarantee and give particular support to regions where youth unemployment rate is over 25%. All Member States are also making use of their share of the European Social Fund (ESF) to support youth employment.
According to the European Commission, there has been progress so far and although youth unemployment remains a key concern in many Member States, young people`s labour market performance in the EU has overall surpassed expectations since 2013.
It is added that there are 1.4 million less young unemployed in the EU since 2013 and 900,000 less young people not in employment, education or training (NEETs).