By NextBestFitWorker transition program
Wage replacement, wage insurance, training, and bridge pensions for displaced workers. The full calculation is on the program's own cost page.
Result
$104.4B
Per resident, per year
$306
÷ 341.1M people
Per household
$789
÷ 132.2M households
How it's calculated
| # | Step | Arithmetic | Value |
|---|---|---|---|
| 1 | Wage replacement | See worker program calculation | $77.0B |
| 2 | Wage insurance | See worker program calculation | $8.0B |
| 3 | Training vouchers | See worker program calculation | $7.0B |
| 4 | Bridge pensions | See worker program calculation | $12.3B |
| 5 | Total one-time cost | $104.4B |
By year
| Year 0 | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 |
|---|---|---|---|---|---|---|
| $0.0B | $15.7B | $26.1B | $26.1B | $26.1B | $7.3B | $3.1B |
Inputs used
| Input | Kind | Value |
|---|---|---|
| Wage replacement, year 1 of unemployment | policy, high confidence | 90% |
| Wage replacement, year 2 | policy, high confidence | 70% |
| Wage replacement, year 3 | policy, high confidence | 50% |
| Average share still unemployed, year 1 | estimate, low confidence | 75% |
| Average share still unemployed, year 2 | estimate, low confidence | 40% |
| Average share still unemployed, year 3 | estimate, low confidence | 25% |
| Wage insurance: share of pay gap covered | policy, high confidence | 50% |
| Share reemployed (eventually) | estimate, low confidence | 75% |
| Average pay cut when reemployed | estimate, low confidence | 15% |
| Wage insurance duration | policy, high confidence | 2 |
| Training voucher | policy, high confidence | $12,000 |
| Training voucher uptake | estimate, medium confidence | 60% |
| Share of displaced workers aged 58+ | estimate, medium confidence | 12% |
| Bridge pension per year | policy, high confidence | $35,000 |
| Bridge pension years | policy, high confidence | 3 |
Trade-off: Follows the layoffs, which track the four enrollment waves.