CM – This state pays workers to get jobs and become unemployed

CAMEROON MAGAZINE - GM20/05/20213 Mins read23 Views

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by Maurie Backman | May 20, 2021

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As more states boost unemployment early on, they step up to help unemployed workers get back to work.

When the US bailout plan was incorporated into law in mid-March, it had more than only stimulus payments are sent to the recipients’ bank accounts. In addition, unemployment benefits were topped up by $ 300 a week through early September and the emergency benefits were expanded for gig workers who are normally not eligible for unemployment. The reason? For some it is about preventing the local labor shortage. For others, their individual unemployment rates have declined.

Ultimately, many lawmakers believe that adding $ 300 a week to unemployed workers’ checks will keep them from going out and looking for work. And given that some low-wage workers may currently make more money for unemployment than full-time employment, that worry holds water.

To address this problem, a state is stepping up and making it more financially attractive and viable for the unemployed to have a job to find. Read on to learn more about Colorado’s unemployed plan.

So far, Colorado has not been one of the states that is cutting back on increased unemployment benefits early. But it wants to motivate people without work to go back to work.

To this end, a program called Colorado Jumpstart is being introduced. Under the program, eligible unemployed people who return to work by May 29 are entitled to up to $ 1,600 when receiving unemployment benefits. Meanwhile, those who return to work between May 30 and June 26 will receive up to $ 1,200.

In both scenarios, half of that money will be paid out after four weeks of employment. The remaining half is paid after eight weeks on the job. If an unemployed worker who takes a job leaves after receiving a first payment, that worker is not entitled to a second payment, but may keep the first.

To qualify for this incentive, unemployed people must between Have received at least a week of unemployment benefits of $ 25 or more for a week or more on March 28, 2021 and May 16, 2021. Unlike many other states, Colorado’s approach to unemployment recognizes some of the restrictions unemployed people face on reintegration in the labor force.

Not only does it cost money to travel to job interviews, but it also incurs job search costs, from buying work clothes to securing and paying for childcare. The fact that Colorado motivates people with a financial recovery rather than a financial penalty is a model we should hope other states will emulate.

To be fair, some of the states that did the increased End unemployment early, mitigate the blow and provide incentives for unemployed workers to return to work.

For example, Montana gives workers a $ 1,200 bonus when they are released from unemployment and get a job. Meanwhile, Arizona is offering a $ 2,000 bonus for those who return to full-time work and $ 1,000 for those who take part-time jobs. It also offers childcare support for those who need insurance coverage to get back to work.

Still, there are many states that are simply pulling the plug on the increased unemployment prematurely and offering nothing to unemployed workers. And that puts many people in an unfortunate financial situation.

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Maurie Backman is a personal finance writer covering everything from savings to retirement to health care. Her articles have been published in major outlets such as CNBC, MSN, and Yahoo.

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