State will Pay Companies Hiring from Vulnerable Populations

The government of Costa Rica will pay $2,700 per person to enterprises hiring in vulnerable sectors and whose staff remain in their posts for at least 12 months.

Monday, September 14, 2015

From a statement issued by the Presidency of Costa Rica:

Promoting job creation in two ways: an economic benefit to businesses that hire people and training in dual education.

· Registration of companies and individuals at the website

San Jose. The Government has presented the My First Job program, which has the goal of opening up 30,000 job opportunities for young people, women of all ages and people with disabilities. The program provides an incentive for companies to increase their staff numbers, while people acquire new skills and experience that allows them to improve their level of stability in the labor market.

My First Job is intended to provide the populations most affected by unemployment the opportunity to have their first quality job. For women unemployment stands at 12.1%, four points higher than that of men (7.7%). Equally serious is the situation of young people, with a rate of 21.8%; and people with disabilities, which reaches the unacceptable figure of 60%, 7 out of 10 unemployed people in the country are under 35 years old.

More on this topic

Incentives to Hire Labor in Panama

October 2019

The Cabinet Council approved a project establishing that the Government will provide investment related to training and give tax incentives to companies that hire young people aged 15 to 24, without work experience.

The program called "Learning by Doing" seeks to provide the first work experience to young people who have completed basic education and have already entered universities or who opted for technical training.

El Salvador: Tax Incentive for Hiring Young People

February 2017

Companies that hire people aged between 18 and 29 years will be able to deduct from income tax between 3 and 5 minimum wages, depending on the number of young people they hire.

With the amendment to the Incentive Law for the Creation of First Employment for Young People in the Private Sector, adopted by the Assembly, tax exemptions are established for businesses that hire young people aged between 18 and 29.

Program that Pays Companies to Hire Staff Takes Off

March 2016

In Costa Rica approval has been given to a trust fund through which private companies will be paid $2,700 for each employee hired from the vulnerable population.

The government initiative that aims to pay companies around $2,700 per employee hired from the vulnerable population, has won its first endorsement to be included in a trust administered by Banco Popular.

Public-Private Partnership to Employ Young People

April 2012

Using partnerships with private sector companies, attempts are being made to provide training and employment opportunities for young people who neither study nor work.

NEO is an initiative led by the Multilateral Investment Fund and the International Youth Foundation, to foster partnerships between the private sector, governments and civil society organizations in order to significantly boost the entry in the workforce for disadvantaged youth in Latin America and the Caribbean.

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