Labor Dept. Attempts to Stop Layoffs by Giving $100 Million to States

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Labor Dept. Attempts to Stop Layoffs
by Giving $100 Million to States to Subsidize Payrolls

By Penny Starr
August 15, 2012

http://cnsnews.com

Labor Secretary Hilda L. Solis (CNSNews.com/Penny Starr)

(CNSNews.com) – The Labor Department announced on Monday that it will be awarding almost $100 million in grant funding to states to prevent layoffs by allowing businesses to pay employees as part-time workers and the federal government will pick up the tab for the cost of a full-time paycheck.

The “work-sharing” program was passed as part of a Republican-led bill in the House, H.R. 3630, and Senate Amendment 1465 to extend the payroll tax deduction and unemployment benefits. In February 2012, President Barack Obama signed the bill into law, which included the $100 million in funding.

“Establishing or expanding work-sharing programs nationwide will help business owners better weather hard economic times by temporarily reducing their labor costs while still keeping their existing skilled employees,” Labor Secretary Hilda L. Solis said in the press release announcing the grants. “This program is a win-win for businesses and employees alike.”

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About ace5ace

60, roaming the Ozarks.
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