People seeking banking graduate jobs may receive a helping hand from the government’s new work guarantee, which went live this week.

The Young Person’s Guarantee will mean the offer of a job, training or work experience is available to people aged between 18 and 24 who are out of work for six months.

The new initiative, aimed at addressing the rising levels of youth unemployment, will provide up to 470,000 extra job and training opportunities for young people over the next 15 months.

New figures indicate that up to 100,000 eligible young people will be able to benefit from the guarantee immediately, through opportunities such as work-focused training, help with self-employment, internships, and places on a community task force.

Secretary of state for work and pensions Yvette Cooper said it was imperative that young people do not suffer the "scarring" effects of long term unemployment.

"That’s why this guarantee is starting now, as the school leavers and graduates of last summer who couldn’t find work because of the recession start to approach six months unemployment," she said.

The scheme is part of the wider Backing Young Britain Campaign, a government-run campaign encouraging organisations to provide young people with the opportunities they need to get into employment.

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