New Jersey has unveiled a new program that will give unemployed citizens a $500 bonus to return to the workforce.
The “Return and Earn” program is meant to relieve the burden of widespread labor shortages that have plagued businesses since the beginning of the COVID-19 pandemic. Some experts have long blamed the lack of workers on increased unemployment benefits in response to the pandemic.
Employees hired through the incentive program will receive the $500 on their first paycheck. Small businesses with 100 or fewer employees could receive $10,000 to hire and train new workers as long as the starting pay is $15 per hour. They are eligible for this subsidy for up to six months.
New Jersey Governor Phil Murphy says that his office is excited about the pilot program, which he hopes will boost the economy.
“We’re going to put $10 million into it and get it off the ground and see what the uptake is. If it is as significant as we anticipate it may be, we’ll find ways to amp that up,” Murphy stated.
Employers and the New Jersey Department of Labor and Workforce Development will collaborate to find potential candidates for open positions. Only New Jersey residents are eligible to receive the bonus and must fill full-time positions, with a minimum of 32 hours per week.
