SPRINGFIELD – Long-term unemployment is one of America's most pressing problems, with nearly 4 million people out of work for six months or longer – including an estimated 273,000 people in Illinois, according to the Illinois Bureau of Labor Statistics. That number has remained stubbornly high, even as the overall unemployment rate has fallen.
State Senator Michael Hastings (D–Orland Park) points to research showing job applicants who have been out of work for eight months are only about half as likely to land an interview as those with similar skills who've been unemployed just a few weeks.
“People who have been unemployed the longest tend to have the toughest time getting back to work,” Hastings said. “Employers put you at the back of the line, regardless of how strong your resume is. We have to reverse this trend, because long-term unemployment creates a major drag on our economy.”
Hastings is working with other lawmakers on a proposal to create a tax credit for businesses that would encourage employers to hire long-term unemployed people.
The proposal, Senate Bill 2698, creates an income tax credit, worth up to $2,500 over three years, for businesses hiring people who were previously unemployed for longer than 27 weeks.
“We need to do more to help the long-term unemployed overcome the stigma and institutional challenges they face in their efforts to return to work,” Hastings said.
Under current law, there already are tax credits for hiring long-term unemployed veterans.
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