Inside Long Island Business

Get the latest news and trends on Long Island companies and the people behind them.

+-

NY program saves 300 LI jobs

The state’s Shared Work program, whose aim is to avert layoffs, saved 300 jobs on Long Island in 2012, nearly one-tenth of the jobs saved statewide, the Labor Department said Tuesday.
  

 That’s down, however, from 350 in 2011. And the numbers also declined in other regions around the state, something the Labor Department attributed to improved economic conditions.

Under the program, employees whose hours are reduced at participating companies can apply for partial unemployment benefits to make up for the lost wages. The program also allows them to keep their benefits such as health insurance and vacation days.  

On Long Island the number of workers participating in the program fell to 1,160 in 2012, compared with 1,350 the year before. The number of plans approved dropped to 145, from 175 in 2011.

The latest numbers show that Long Island outpaced New York City in the program in 2012. In the City, 925 workers participated and 240 jobs were saved. Statewide 3,280 jobs were saved and 12,610 employees participated.

The Long Island economy needs all the help it can get to hold onto jobs because employment growth here continues sluggish. In December, the local economy had just 2,700 more jobs than it had in December 2011.

Employers who want to apply for the program can contact the department at 518-457-5807.
 

advertisement | advertise on newsday

advertisement | advertise on newsday