On September 5th- 2021, NYS will end the PEUC (Pandemic Emergency Unemployment Compensation). This program offered unemployed an additional $300 weekly in payment. That comes out to an extra $7.50 per hour based on a 40-hour work week. One of the effects of this program has resulted in a massive worker shortage as it created a larger “incentive” for people to not (re) enter the workforce.
Monday September 6th is Labor Day and most people will have that workday off. The following day will be the first day in over a year where we will see the efforts of area employers seeking to hire start to meet face to face with candidates now seeking to re-enter the workforce.
There will be a rush on the best jobs, there will be higher desire for individuals to work for companies with strong reputations and a solid image.
There will also be a desire for candidates to seek jobs that give them the opportunity to explore new fields and sectors…ones that they believe will inspire and make work more satisfying.
Here in our region, we have always had a lower unemployment rate than many of the other regions around us. So expect this “rush to re-employment” to be fast and aggressive on both employer and employee sides.
A fully staffed company is imperative to any successful business. But often unseen is the value of employment to individuals. It creates valued skills, generates personal and family income, and develops self-worth. All positive aspects to a healthy functioning economy.
Let’s get going.