The Business Council of New York State
New York State's unemplyment insurance fund is depleted because we're not creating and keeping enough jobs in the Empire State. For the 12 months ending in September, employment in New York rose by 0.7 percent, roughly half the national average. The $21-per-employee increase in New York State's unemployment-insurance tax, while unavoidable, is an additional cost burden on employers.
The solution to this problem, as with so many others, is to keep the jobs we have and bring more jobs to New York. That will mean more dollars flowing into the UI fund, and fewer unemployed workers collecting benefits. We need more jobs. We don't need more taxes.