Unemployment Insurance

New York’s Unemployment System Depends on Continued Federal Assistance

May 11, 2020

Following the Great Recession, New York’s Unemployment Insurance Trust Fund only achieved a positive fund balance for the first time in fiscal year 2016. On January 1, 2020, the balance stood at $2.65 billion, but the fund was nearing insolvency according to a report by the U.S. Department of Labor.

Since the COVID-19 pandemic mitigation began eight weeks ago, over 1.7 million New York residents have filed for unemployment, which is roughly 5 percent of the nation’s … (read more)

Uphill Employment Battle for New York’s Recent College Graduates

Brent Kramer, PhD, Senior Economist

Kramer@fiscalpolicy.org
August 3, 2017

 

ALBANY, New York – In today’s post-Great Recession environment, student loan debt has reached all-time highs, and more young adults are living at home longer, and are unable to purchase homes, cars, and other assets because of persistent unemployment or underemployment. Many young would-be workers are forgoing the job market altogether, and returning to school or taking unpaid internships in hopes of breaking into their respective fields.

Eight years after … (read more)

Casualty of Chaos: The Cost of Albany’s Inaction on Jobless Benefits

July 2, 2009. Albany inaction costs jobless New Yorkers $267 million. A potent tool for fighting downturn, unemployment benefits deliver economic stimulus where it’s most needed. But New York’s jobless benefit has been frozen since 2000, and now lags behind dozens of states. This report from FPI and the National Employment Law Project shows that upstate counties have been hurt the most by the legislature’s failure to increase unemployment benefits.

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New York’s unemployment insurance system: A vital safety net for New York workers and their families during economic downturns

March 12, 2008. The unemployment insurance system serves as government’s first responder to economic problems. This brief shows that New York could get more economic charge from the program. In a volatile economy with frequent layoffs and job changes, a strengthened unemployment insurance program will help boost the economy of every county in the state.… (read more)

An Agenda for a Better New York: Modernizing New York’s Unemployment Insurance System

June 2000. A new report by Jennifer McCormick and Trudi Renwick. Executive summary below; also see full report.

On the last day of the 1998 Legislative Session, a significant Unemployment Insurance (UI) reform bill was passed by both houses of the legislature and later signed into law by Governor Pataki. This wide-ranging bill addressed many aspects of the UI program: employer tax rates, the taxable wage base, the maximum benefit amount, seasonal employers and individual eligibility. A more limited … (read more)