Economics
France Beefs Up Job Support to Prevent a Lost Generation
- Government will boost incentives for apprenticeships
- State to offer longer term finance for case-by-case furlough
Cyclists wait to cross a road junction from a newly created bike only lane on Rue de Rivoli in Paris, France, on May 18.
Photographer: Adrienne Surprenant/BloombergThis article is for subscribers only.
France will beef up incentives for apprenticeships and support businesses that keep staff on payroll during a prolonged economic downturn to prevent losing a generation to long-term unemployment triggered by the coronavirus.
The move to support apprenticeships and make them available to more companies will cost around 1 billion euros ($1.1 billion), an official in President Emmanuel Macron’s office said. The government will also expand the financing of a system that allows struggling companies to furlough workers if they strike an agreement with unions to adjust working hours and conditions over the long-term.