For the first time since 2009, the New York State Unemployment Insurance Trust Fund has achieved a positive fund balance for the first time since 2009. This is largely due to pro-employer reforms signed pushed by Unshackle Upstate and many of partners and signed into law by Governor Cuomo in 2013.
Governor Cuomo said: “With much-needed reforms and a rebounding private sector, the Unemployment Trust Fund has reached new levels of fiscal stability, while at the same time providing relief for businesses and higher benefits for unemployed workers. This is one more example of how this administration’s focus on rebuilding the state’s economy and making government work more efficiently is delivering results.”
Unshackle Upstate Executive Director Greg Biryla praised the news: “We’re pleased that the Unemployment Insurance reforms we advocated for in 2013 have yielded real results, restoring the UI Trust Fund to solvency for the first time in years. This is good for job creators, and for their employees as well. We commend Governor Cuomo for tackling this issue, which will better enable the state’s businesses to compete in the global economy. We look forward to seeing similar progress on other measures that will improve the state’s business climate.”