Stabilizing Employment Through State Unemployment Workshare Programs

Is the U.S. economy trending toward recession? Rumors of a recession are circulating. Many companies are considering, or have already implemented, plans to reduce overall headcount. Inflation fears and rising interest rates are also driving concerns about a recession. Regardless of whether the United States enters into a recession, as formally defined by a broad set of indicators, layoffs remain a part of the economic cycle. Employers may be able to alleviate some of the stress and burden associated with economic downturns by working with state unemployment agencies. State unemployment agencies have created workshare plans to provide a soft landing for employers and employees at the bottom of an economic cycle.