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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.