Workers’ Comp rates to increase; Repayment of UI trust fund borrowing commences

Although not unexpected, the UI Interest Assessment Surcharge bills have hit employers for the first payment on the interest owed on the $3.2 billion federal borrowing to maintain the state fund’s ability to continue benefit payments.  Averaging about $21 per worker, the $95 millio
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Deadline for state’s repayment of unemployment insurance tab is fast approaching

Rick Karlin of the Times Union points out that the New York State Department of Labor is assessing businesses up to $21.25 per employee to cover the cost of the state’s unemployment insurance: “Citing the need to borrow more than $3 billion from the federal government to p
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Most states raising jobless tax on businesses

Cathleen Crowley of the New York Times writes – “As persistently high unemployment has drained the funds that are used to pay jobless benefits, more than two-thirds of the states expect to raise taxes on businesses this year to replenish them, according to a survey of labo
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Obama wants jobless aid help for states

The Associated Press reports in the New York Times – “The Obama administration is proposing short-term relief to states saddled with unemployment insurance debt, coupled with a delayed increase in the income level used to tax employers for the aid to the jobless. The admin
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State hits employers with new charge on benefits

Tom Tobin writes in the Democrat and Chronicle about new changes that New York employers must begin making on interest payments for a debt the state rang up by borrowing from the federal unemployment insurance trust fund. “The surcharge amounts to $24 per employee, on average, m
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Special Report: Unemployment in the Lower Hudson Valley

The Lower Hudson Valley unemployment rate remains stuck around 7 percent, which, despite consistently falling below state or national levels, still means 60,500 jobs have been lost in Westchester, Rockland and Putnam counties since jobs peaked in July 2008. And few industries have sur
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The job-killing toll of jobless benefits

Michelle Malkin of the New York Post writes about the hidden costs of extending jobless benefits. “There is no such thing as a “free” government benefit. Ask small-business owners who are footing skyrocketing bills for bottomless jobless benefits. While politicians i
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Unemployment Insurance update: Another tax increase

The Governor presented this afternoon as part of a press release his “comprehensive legislation to reform the unemployment insurance system“, which more properly should be characterized as a comprehensive UI tax bill. The draft legislation contains no system reforms, but,
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Fund Debt Fans Fears Of Spike In Taxes

The Wall Street Journal’s Jacob Gershman writes, “New York’s unemployment−insurance system is borrowing money from the federal government at an explosive pace −− sinking $1 billion deeper into debt since the beginning of the year −− and that has businesses
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U.S. Adds 162,000 Jobs in March; Rate Remains 9.7%

The New York Times reports – “The American economy added 162,000 jobs in March, the Labor Department reported Friday, in a month when the government hired thousands of temporary census workers. The unemployment rate held steady at 9.7 percent, the Labor Department said, bu
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