- This week Congress approved $310 billion above the initial $349 billion Paycheck Protection Program (PPP), but it is not achieving its objective of stopping job losses.
- Paycheck guarantees would ensure American employer-employee links are preserved and employees can seamlessly return to their productive tasks as the economy recovers and demand picks up.
- Unless the Congress takes immediate, direct, and vastly expanded action to encourage businesses to retain their employees, we may lose an entire generation of the most promising ideas.
Chosen excerpts by Job Market Monitor. Read the whole story @ The PPP isn’t working. Here’s a better idea: Paycheck guarantees
In Germany, for instance, 650,000 employers had notified employment agencies by last week of their intention to make use of the country’s short-time work program. Under the system, employees have their hours scaled back, and the government pays them up to two-thirds of their normal salary, while the employer pays little or nothing. Once the … Continue reading
Government must introduce wage subsidies as a key means to protect jobs Our key demand is that government provide wage subsidies for short-time working and temporary layoffs. Government should learn from examples across Europe and introduce an immediate package across the economy to protect jobs. As we recommend below, Government should immediately convene a taskforce … Continue reading
COVID and Wage Subsidy in Ireland – A group of 570 employers had failed to set up the refund accounts
Trade union Unite has urged more construction sector employers to avail of the Government’s Covid-19 temporary wage subsidy scheme, saying it is “morally unacceptable” for profitable contractors to opt for layoffs instead. The union, which represents workers throughout the sector, has written to Minister for Finance Paschal Donohoe to express concern at the failure of … Continue reading
While praise is due to civil servants who have turned these schemes around with unusual rapidity, there have also been anomalies, resulting in some people being better off being laid off than kept on by their employer – particularly those in lower paid jobs. RTÉ has been told of examples of younger workers, for example students with … Continue reading
The coronavirus pandemic has dramatically changed economic life across Europe and the United States. By confining people to their homes, leading them to spend far less money than they otherwise would, the West has seen a collapse in consumption, threatening the survival of a sweeping number and range of firms, from restaurants to airlines to … Continue reading
The Canada Emergency Wage Subsidy From: Department of Finance Canada Backgrounder What It Means for Canadian Businesses To help businesses keep and return workers to their payroll through the challenges posed by the COVID-19 pandemic, the Prime Minister, Justin Trudeau, proposed the new Canada Emergency Wage Subsidy. This would provide a 75 per cent wage … Continue reading
President Jacob Zuma on Wednesday signed into law the Employment Tax Incentive Act, to take effect from January 1 – though it will apply to all young workers hired on or after October 1 this year. The promulgation of the controversial law brings to a close a fierce battle lasting more than two years in … Continue reading
Tens of millions of jobs are now at risk from the coronavirus pandemic, with entire industries being shut down to keep the virus from spreading. Governments across Europe are spending billions on wage subsidies in a desperate effort to save jobs and cushion the economic blow. Here are some of the plans to help individuals … Continue reading