New York will see a historic increase in unemployment benefits, with the cap rising from $504 to $869 per week starting in October 2023. This legislation, part of the the Fiscal Year 2026 Enacted Budget, resolves a federal loan to the state's Unemployment Insurance Trust Fund. Governor Kathy Hochul, alongside union leaders, highlighted the importance of this increase amidst rising living costs, emphasizing the supportive message it sends to laid-off workers, particularly in industries vulnerable to seasonal layoffs.
The increase of over 72% is the largest increase of the unemployment cap in state history.
These are really tough times for our people, and when we can do something like this, it sends a message that we care so deeply about every stress that people are going through.
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