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Florida Unemployment Rate: 12.0%
Financial Incentives
Short Time Compensation
Short Time Compensation (STC) is a temporary alternative work style to assist employers in keeping their workforce intact. The program permits prorated unemployment compensation benefits to employees whose work hours and earnings are reduced as part of a plan to avoid total layoff of some employees. The program encourages work sharing as an alternative to layoff and eases the financial burden of unemployment. Please see example below, or click here for more information.
Example - Normal hours: 40 hours/Hours reduced to: 32 hours
(A weekly hours reduction of at least 10%, but not more than 40%)
- Normally Receives $7.50 per hour x 40 hours = $300.00
- Would qualify for 50% of wages or $150.00 in UC benefits upon total layoff
[40 - 32 = 8 (hours reduced) 8/40 = 20% reduction (qualifies)] - Reduced Amount: 32 hours x $7.50 per hour = $240.00
- 20% x $150.00 (percentage of UC benefits) = $30.00
- New weekly salary = $240.00 (earned wages) $30.00 (UC) = $270.00
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