Unemployment and WOTC

As a tax credit advisory firm we look at unemployment data differently. When the monthly rate comes out we turn right to the data table (link below). We’ve discovered a statistic that is, at the same time, shocking and interesting. This number is especially interesting to those participating in employer tax credit programs.

Who are the “Unemployed: The definition of an unemployed worker is; (i) unemployed through no fault of their own, (ii) are ready, able and available to work, or (iii) are expecting to be recalled from a temporary layoff. This definition is used in a monthly survey of 60,000 called the Current Population Survey (CPS) that measures unemployment in the country.

Conclusion: Employer Tax Credits, like WOTC, are smart social programs that benefit business, employees, and the government. Each hiring credit is an economic stimulus applied directly to where the pain is greatest. That means win-win-win for everyone, plus 1 more “win” for the US Economy.

That’s why at Mckenzie Chase Management we say,

 

“You Deserve the Credit”.

 

 

The Unemployment Rate report, as published by the Department of Labor’s (DOL) Bureau of Labor Statistics (BLS):

http://www.bls.gov/news.release/empsit.nr0.htm

Data Sources are here: 

Get the table data for the BLS report at:

http://www.bls.gov/news.release/empsit.a.htm

Check each labor force definition at:

http://www.bls.gov/cps/lfcharacteristics.htm

Read who is counted and how:

http://www.bls.gov/cps/cps_htgm.htm

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