by Henry Blodget on Aug 21, 2011, 10:02 PM
President Obama is likely to propose a job-training program for the long-term un
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employed when he finally gives his speech on jobs
in September, Laura Meckler of the Wall Street Journal reports.
The proposal will also likely include some infrastructure spending and a tax credit for employers to encourage hiring.
(Like other jobs proposals that have been reported
in recent weeks, this news is presumably another White House trial balloon).
The jobs-training program would be based on a Georgia initiative in which unemployed folks are “hired” for two months by companies.
The unemployed folks continue to receive their unemployment benefits from the government, as well as a stipend for travel, child-care, and other expenses. At the end of the two months, the companies can choose whether or not to hire the workers.
In the Georgia program, about 16,500 companies and 32,000 people have signed up. Of the ~23,000 folks who completed the program, about 25% were hired by the company they worked for. Nearly two-thirds were hired by someone.
More details at the WSJ >
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