Work-sharing is a good program because the money comes from the state's unemployment compensation fund. The employer saves money by not having to spend more money on hiring and training new employees. The employee keeps his job and also his benefits.
How It Works
Employers reduce their employees pay from 20 to 40 percent and then the states make up the lost income, usually half of the lost wages come from state unemployment funds. Mark Zandi, noted economist, estimates that for every dollar spent on work sharing, $1.94 would be put back into our economy's output.
Steven Greenhouse, in his New York Times article of June 15, 2009, "Work-Sharing May Help Companies Avoid Layoffs," reports that 17 states in the United States currently have a work sharing program. The program is popular with many executives because it allows companies to keep good employees with valuable skills. Unfortunately work-sharing isn't used often enough because the promotion of this program is not prevalent.
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