The Ministry of Labor (MOL) implemented the "Youth Employment Investment Program" from 2019 to 2022 in order to support youth employment, helping a total of 750,000 youths find employment. The unemployment rate of young people aged between 15 and 29 was 8.38% in 2022, the lowest level since the financial crisis of 2009. Starting in May 2023, the MOL initiated stage 2 of the "Youth Employment Investment Program" in response to future industry development trends and the employment situation faced by youths. Resources from 11 governmental organizations (3 organizations were included for the first time: the Ministry of Digital Affairs, National Science and Technology Council, and Financial Supervisory Commission) were consolidated to propose 5 major goals, 12 strategies, and 48 measures. An investment of NT$16 billion is expected from 2023 to 2026 in order to assist 800,000 youths with employment.
Strategically, the first stage of the program is centered on 4 key aspects, namely industry trends, skill development, employment services, and career planning. The second stage focuses on issues such as youth career development, supply-demand of labor, youth unemployment, youth wages, and atypical employment to propose the 5 major goals and strategy measures: "set orientation", "talent increase", "promote employment", "strive for good wages", and "full-time transition". Performance indicators increased from 2 to 8 items.
In terms of the measures taken in the second stage of the program, the implementation of 26 measures performing well in stage one shall be continued while revising 16 measures and adding 6 new measures. New measures added by the MOL include: enhance the college youth pre-hiring program, initiate support measures for the youths seeking employment and the employment of atypical youths, assist youths in entering key industries, obtaining technical licenses in key industries, rewards for stable employment, and interdepartmental strengthening of assistance for young entrepreneurs.
Youths are the driving force behind a nation's sustainable development and innovative reforms. By assisting with the career development and cultivation of youths and guiding them into key industries to accumulate professional skills through collaboration from departmental resources, stable employment can be provided to young people in Taiwan. For details about the program, please visit the Taiwan Jobs website.