Financial services companies are among the Glasgow employers invited to participate in a new £10m scheme to provide 1000 jobs for graduates. The Commonwealth Graduate Fund will pay employers 50% of the salary costs for graduates they take on, up to a maximum of £10,000 per graduate for one year.

Councillor Gordon Matheson, Leader, Glasgow City Council, said, "Graduates account for 32% of our workforce, well above the UK average, and I want those leaving university to believe they can fulfil their dreams in this city.  The number of unemployed graduates in the country has doubled from 10% to 20% over the last three years.  We cannot let this continue.

"We're investing £10 million to provide 50% wage subsidy to employers for every new job created. Every additional graduate job you create can be supported through this scheme. And it's open to every private and third sector employer in the city."

Glasgow Chamber of Commerce chief executive Stuart Patrick said: "We warmly welcome this move by the city council. We know the labour market is especially tough for young new entrants at this time, at all skill levels."

Further information available at http://www.glasgow.gov.uk/en/Residents/LearningEmployment_Training/CommonwealthGraduateFund/