The Youth Employment Strategy (YES) has provided another $198,000 towards helping youth find gainful employment in Canada. A press release announced that the government of Canada would provide a local New Glasgow business funds to supplement the creation of 10 jobs for youth facing barriers to employment. This announcement comes in the wake of many others, making it clear that the government is doing all it can to address the growing labour shortage in our country.
Under this new project, the ten youth participants will have the opportunity to develop important foundational skills and competencies that will serve them well as they move further into their professional careers. In addition, the youth will gain invaluable mentorship from a designated job coach at the organization.
Our youth are our future, and Canada is looking invest in them. As such, there are a variety of funding programs available to businesses who want to hire young people:
Youth Employment Strategy
The federal Youth Employment Strategy (YES) contributes over $330 million annually to help youth gain the skills and experience necessary to thrive in Canada’s highly competitive labour market. Since its inception in 2006, the YES has helped over 555,000 youth through the following three funding streams:
1. Skills Link – Businesses can apply to this stream to request funding towards the hiring of youth between 15 and 30 years of age.
2. Career Focus – This most targeted of the three YES streams, the Career Focus program aims to provide post-secondary graduates with work experiences or internships related to their field of study or career goals.
3. Canada Summer Jobs – This funding stream provides businesses with funds to supplement the income of summer student positions which match the youth’s primary field of study.
Youth Jobs Strategy
At the provincial level, job creation for Ontario’s youth has been identified as a cornerstone of the Economic Action Plan. The Youth Jobs Strategy connects over 30,000 youth with job placements that fit their professional career goals. Funding is administered through both direct and indirect funding programs:
1. Apprenticeship Training Tax Credit – A refundable tax credit for corporations and unincorporated businesses employing apprentices in certain skilled trades during the first 48 months of an apprenticeship program.
2. Youth Employment Fund (YEF) – Eligible participants will be between 15 and 29 years of age and currently not attending school. Licensed Employment Service Providers will assess the youth’s skills, education, work experience, and interests to match them with a job placement and employer that fit their goals.
At NorthBridge, we stay up-to-date with the latest hiring programs so you don’t have to. To find out if your business is eligible for any of these funding programs, contact us.