Some 4,500 young unemployed have applied for two job placement schemes by the Labour Ministry that concern work experience for six months in the private and public sector and subsidised work experience for €500.

The state launched the two schemes aimed at reducing the record high unemployment rate for youth under 25 which is now above 40%.

The Labour Ministry aims to place 2,500 unemployed in jobs within 2014 with a budget of €8.5 million.

Almost 2,000 applications have been submitted to the Human Resource Development Authority (HRDA) for participation in the scheme concerning work experience for young graduates of secondary education, training system, or tertiary education.

For this scheme, the Authority has also received 1,200 applications from employers from a wide range of fields.

The number of applications by employers for this scheme means that more jobs are being offered than those made available to the unemployed.

Graduates up to the age of 35 also expressed great interest in the scheme that concerns work experience with placement in companies and organisations including the public sector.

Until now, the HRDA received 2,500 applications from unemployed and 700 from employers.

Applications for schemes can be submitted until April 14.

Similar schemes were implemented to date with success with a large number of unemployed already placed in the public sector to cover staff shortages.

Small businesses expressed little interest in the first scheme of subsidised employment in retail companies that employ from one to four people.

This was despite the attractive offer of the state covering 70% of the employee’s salary (full or part time).

Only 160 applications were submitted.

The unemployment rate was the highest in February with 53.204 jobless recorded.

It was at 52,783 in January and 52,772 in March.

The age group with the most unemployed was that of 50 to 59 with 12,308 recorded in February, 12,283 in January and 12,111 in March.

Figures for the 30-39 age group were also high with 12.053 jobless in January, 12.086 in February and 11.750 in March.

Under 25s recorded the highest rate in March with 5,725 out of work, while the figure for the 25 to 29 age group was also highest in March with 8,355 unemployed. There were also 425 jobless aged under 20 recorded in March.