It is Time for Re-Employment Insurance

In reviewing many articles and blog posts over the last couple of months I realized a theme had emerged. Maybe I’m just dense because the theme is fairly obvious. The last two recessions had jobless recoveries. This much we know. But the reaction to this situation was as if it were still 1968 and the manufacturing plant was going call the workers back once demand picked back up. That is why unemployment insurance at the state level is now less effective.

Two recent articles helped me understand this better. They are City Will Help Retrain Laid-Off Wall Streeters by Patrick McGeehan in the NY Times and Stimulus: Now for the hard part by Jeanne Sahadi on People who lose their jobs are often disoriented by the experience. They aren’t sure what they can do to make their work desirable and the routine ins and outs of caring for a family hampers their job search efforts. The result is many people post for jobs that simply don’t exist anymore.

Job re-employment insurance is a great alternative to unemployment insurance as it is constituted today. A hybrid program that analyzes the skill set of the applicant against available learning resources would alleviate a stagnant employment environment. The requirement for qualifying for re-employment insurance is to be recently enrolled in a preapproved curriculum. This is in addition to actively seeking a job (this is a condition today). It might be hard for some people to get on board with it, but hey, its a new reality.

Working Thoughts 02/21/08
When Salaries are Exposed


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