Jobs and Training Compact

The Rudd Government today announced a Jobs and Training Compact with Australians affected by the global recession promising training, support and local initiatives to help them get back to work. The Compact is the next step in the Government's response to the global recession following earlier action to stabilise financial markets, stimulate demand through direct stimulus, measures to boost housing and nation building through infrastructure investments. The Jobs and Training Compact includes: $300 million to provide immediate access to employment support, an additional 20,000 Productivity Places for retrenched workers and financial assistance including a new agreement with the big four banks to assist those with mortgages, a $650 million Jobs Fund to help support local jobs and training through community projects in regions hardest hit by the economic downturn.