Tax Credits for Hiring the Long-term Unemployed
Since the great recession, of 2007 to 2009, those not participating in the workforce make up over 40% of working-age adults. This means that many new hires are likely to qualify for the WOTC’s new long-term unemployed target group.
To qualify for this target group, a new hire must have been unemployed (not working) for a period of at least 27 weeks (over 6 months) and must have received unemployment benefits at any time prior to being hired by the employer.
The long-term unemployed are large in number when you include all those who are not working including those not-participating, marginally attached and under employed. This portion of non-working adults, of age, often exceeds 40% of working-age adults.
Check your unemployment statistics. This is a very interesting demographic to track.
