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An Unemployment Insurance Roadmap for New York Employers

During the current COVID-19 crisis, over one million New Yorkers have applied for unemployment insurance (UI) and New York State has paid out over $7 billion in benefits. Despite these numbers, many employers do not understand the ins and outs of UI. Because of the COVID-19 UI enhancements, UI can be beneficial to both employers and employees.

Recent Changes to New York Unemployment Insurance

As we ring in the New Year, New York State employers should be mindful of significant changes to the New York State Unemployment Insurance Law. As a result of the economic downturn, the New York State Unemployment Insurance Fund became insolvent and New York borrowed $3.5 billion from the federal government to cover increased costs. To repay this loan and to reduce interest payments, New York implemented certain unemployment insurance reforms.
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