What you need to know: States opting out of federal unemployment benefits early
In the past month, more than 25 states have announced that they will end enhanced federal COVID-19 unemployment benefits early in an effort to help combat the tightest labor market many of us have ever seen. Currently, unemployed Americans are eligible for an additional $300 weekly unemployment benefit until September 6, 2021. Additionally, some states will offer additional monetary incentives for individuals to return to work.
Under current benefits, the average American receives $387 from their state in weekly unemployment payments, which becomes $687 with the federal boost. That means, for a 40-hour workweek, the average unemployed American is getting the equivalent of $17.17 an hour—more than two times the federal minimum wage.
It’s worth noting that the labor shortage we face today is multifaceted. While many believe extended unemployment benefits are disincentivizing workers from coming back, this isn't the whole story. Access to affordable childcare, lingering health and safety concerns and the millions of people who reevaluated their work during quarantine are also giant contributors.
Here is the full list of states (updated 6/22/2021) ending benefits early and 5 actions employers can do to stand out in this tight labor market.
Alabama: June 19, 2021
Alaska: June 12, 2021
Arizona: July 10, 2021
Arkansas: June 26, 2021
Florida: June 26, 2021
Georgia: June 26, 2021
Idaho: June 19, 2021
Indiana: July 19, 20201
Iowa: June 12, 2021
Louisiana: July 31, 2021
Maryland: July 3, 2021
Mississippi: June 12, 2021
Missouri: June 12, 2021
Montana: June 27, 2021
Nebraska: June 19, 2021
New Hampshire: June 19, 2021
North Dakota: June 19, 2021
Ohio: June 26, 2021
Oklahoma: June 26, 2021
South Carolina: June 26, 2021
South Dakota: June 26, 2021
Tennessee: July 3, 2021
Texas: June 26, 2021
Utah: June 26, 2021
West Virginia: June 19, 2021
Wyoming: June 19, 2021
5 ways employers can stand out and attract top talent in today’s labor market.
Referrals. Referrals have 5x the hire rate of other applicants. Employers should raise referral bonuses, run monthly campaigns and ensure signage in the breakroom. Rely on your current staff to help you hire
List the wage. Postings with wages included get 30% more applicants. Ensure all of your job postings have either the exact wage or a range for all positions.
Reinforce differentiators. Highlight what others can’t offer. Ensure job descriptions speak to career growth, family atmosphere and benefits.
Address health/safety. 52% of workers look for it in job postings. List any cleaning or health protocols you have in place and be transparent about how you’re keeping staff safe.
Optimize rates. Increase your share of voice in job marketplaces. Ensure you’re bidding at competitive rates on job platforms and work with your account representative to make sure you’re getting the results you need.
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