Business & Economy
Layoffs could be eased by state work share program
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By JACOB KANCLERZ
Capital News Service
LANSING – To reduce layoffs during tough times, Gov. Rick Snyder, legislators and business groups favor a program that allows both businesses and the state unemployment insurance program to contribute to workers’ paychecks. The program, known as work sharing, allows businesses to keep employees during down periods in the economy by reducing their hours and wages. A part of the employees’ lost income is then made up through partial payments of unemployment insurance. The program is an alternative to full unemployment benefits paid to laid-off workers. Unemployment insurance is funded through payroll taxes on Michigan businesses.