Spain's Ministry of Labour negotiates new hiring incentives

Spain's Ministry of Labour is negotiating new incentives and aid for companies that hire unemployed individuals under the age of 25 or over the age of 45. The initiative aims to provide more resources to these specific groups to help reduce the national unemployment rate.

State Secretary for Employment, Joaquín Pérez Rey, met with employers and unions to discuss a reform of the employment office service system. This move is part of the government's Annual Plan for the Promotion of Dignified Employment. The government has set a target to reduce the unemployment rate from its current 9.9% to 8.5% by 2028, which would be the lowest level seen since 2007, though it remains higher than the European average of approximately 6%.