Shared Work program saves 20,000 jobs in Washington
The Employment Security Department reports that more than 20,000 Washington jobs were saved because of Shared Work.
Instead of laying off employees, the program cuts their hours. But the workers are then entitled to partial unemployment benefits which sustains their regular pay. Today I spoke with the General Manager of Dayco Heating and Air and he tells me this program has not only saved his workers, but will also save him thousands of dollars in the long run.
"It will save us a lot of money finding and training new skilled workers costs thousands and thousands of dollars for the company," says Day. "But in this case we get to retain the skilled workers, they still get their weekly pay and when the economy picks up we can keep right on rolling."
Day also told me if it wasn't for this program about 25% of his workers would have been laid off.
Statewide, 51,000 employees participated in the program this year compared to 21,000 employees in 2008.