With the steepest declining unemployment rate nationwide, South Carolina’s economy has bolstered in 2014. In fact, more South Carolinians are working than ever before, peaking most recently at 2,050,975 in May.
The successes of the state’s economy can be largely attributed to the businesses that call the Palmetto State home. Without the commitment to hire, thousands of South Carolinians would be unemployed and unable to support their families and themselves.
But did you know that in August, there were still 138,108 individuals unemployed in our state? Many of these are considered long-term unemployed or without a job for 27 weeks or more. The long-term unemployed comprise 82,000 jobseekers in South Carolina alone and 3.2 million jobseekers nationwide.
The South Carolina Department of Employment and Workforce (DEW) offers a variety of job placement services. In SC Works centers across the state, the agency provides free skills-development workshops, hiring events and training opportunities to those who are eligible. Last year, DEW sent 5,643 jobseekers through training to upgrade existing skills or learn a completely new trade.
If you’re looking for that next great hire, DEW has a portfolio of interested candidates. In 2014 more than 200,000 jobseekers have created profiles and searched for work using SC Works Online Services.
Let DEW play matchmaker and save you money by putting an unemployed person back to work. Here are a few of the programs DEW offers to businesses interested in hiring unemployed jobseekers with barriers to employment.
- On-the-Job Training (OJT) – This incentive compensates you for time spent training individuals for customized skill sets. The reimbursement period varies by the specific skill set you are training for. OJT will pay up to 90 percent of your new hire’s wages for up to 26 weeks.
- Federal Bonding – Provides six months of free insurance protection against concerns you have about an applicant’s background. This program is valued at an average of $5,000 per individual.
- Work Opportunity Tax Credit (WOTC) – Hire an individual from a targeted population and save on federal taxes. You must submit your tax credit request within 28 days of the worker’s start date. Employees must work at least 400 days before the tax credit can be claimed. WOTC can reduce your taxes anywhere between $2,400 and $9,600.
- Apprenticeship Credit – State tax credits can be claimed annually for up to four years on a registered apprenticeship. This incentive averages about $1,000 per apprenticeship per year.
Visit dew.sc.gov to learn more about how DEW can match you with your new hire and connect you to the right cost-savings resources. Together, we can reduce unemployment and improve the quality of life for thousands of South Carolinians.