Investing in the future
Next year the Federal Employment Agency will have an income of 35.2 billion euros, partly from unemployment insurance contributions. Spending will be 36.6 billion euros. The budget will be balanced by using reserves. The reduction in contributions to unemployment insurance to 2.4 per cent as of 1 January 2020 will ease the financial pressure on employers and employees by a total of 1.2 billion euros.
Investing in advanced training and skills development
The Federal Employment Agency will again focus on advanced training and skills development. With the Upgrading Opportunities Act (Qualifizierungschancengesetz), the German government has expanded its support options. The aim is to make employees fit for tomorrow’s working. The Federal Employment Agency can provide extensive financial support for employees and employers as well as providing intensive advisory services on the labour market and advanced training options. For these and all its other activities to help people into work, the Agency invests 9.5 billion euros. One special focus is ensuring that people with disabilities can play an active part in working life.
Participation Opportunity Act (Teilhabechancengesetz) is working
Since 1 January 2019, employers have been eligible to receive wage subsidies if they employ long-term unemployed individuals with full social insurance. More than 39,000 people have received support from the Federal Employment Agency since the Participation Opportunity Act (Teilhabechancengesetz) came into effect.
The individuals have found work in many different branches. Long-term unemployed individuals were placed specifically according to their abilities. The areas in which they work cover a very wide spectrum, from health and social services, to public administration, commerce, and the hospitality sector. To generate additional employment openings the Federal Employment Agency will be investing four billion euros by 2022.