The Federal Government has allocated $841 million for a youth employment program in the 2016-17 Budget.
The Prepare-Trial-Hire program will provide youths with six weeks of intensive skills training, and up to 12 weeks of internship opportunities, while businesses that employ a youth will be eligible for a $10,000 wage subsidy.
The skills training will focus on improving job hunting skills and job readiness, and will be available to young job seekers within five months of them registering for jobactive, an online tool used to connect employers and job seekers across Australia.
Up to 120,000 placements will be created over the next four years.
The internships will be at least four weeks in duration, and job seekers will receive an additional $200 per fortnight on top of their regular income support payment during this time.
The Federal Government will provide $10,000 to support businesses who employ job seekers who are classified as being less job ready, while $6,500 will be provided for youth who are more employable.
The program will cost $752 million, while a further $89 million will be provided to support young people develop their own businesses.