BUSINESS MONDAY: Laid-off workers to receive unemployment benefits

Workers within the tourism industry, laid off due to reduced revenue, will receive unemployment benefits of 60 per cent of wages for up to 26 weeks.

So says Prime Minister Mia Amor Mottley. She made the announcement while outlining Government’s plans to address the harsh impact the COVID-19 virus was expected to have on the island, during the wrap-up of the Appropriations Bill debate on Friday night.

“One of the things that the National Insurance Scheme (NIS) Board also agreed to was that it has relaxed the requirement to visit the Employment Exchange at Warrens, so that there can be a one-stop shop rather than the bureaucracy that now attends itself to the claiming of unemployment benefits,” she added.

Also, the country’s leader said workers placed on short week will get 60 per cent of their earnings for unproductive days from the NIS.

“We are recommending that entities, hotels in particular and tourism-related establishments use the opportunity to participate in the National Training Initiative, which will refocus its efforts to do as much training for the workers of the tourism and tourism-related sectors as possible during this downturn in activity for them.

“For those employers who are prepared to retain three-quarters of their workforce, even if some on short week, we are going to defer the obligation for them to pay employers contributions for three months in the first instance, with the preparation for them to extend it for another three months immediately if the crisis goes beyond three months,” Mottley continued.

She highlighted that with $141 million in the Severance Payment Fund and $19 million in the Unemployment Fund, “if push comes to shove, at the appropriate time, we will recapitalize the Unemployment Fund if it comes under pressure”. (JMB)