New York Governor Kathy Hochul made a major announcement on Monday that will benefit people receiving unemployment benefits in the state. The state will increase the weekly maximum benefit given to unemployed individuals by up to $365. This will increase the maximum amount from $504 to $869.
New York has been severely affected by the US government shutdown, as there are around 115,000 individuals in the state who have been affected by it, as per Newsweek. Governor Hochul directly criticized the Republican Party and President Donald Trump for their ordeal and explained the reason for her decision.
“Donald Trump and Washington Republicans’ agenda is a direct attack on hardworking New Yorkers, with reckless trade wars causing skyrocketing prices. And now their decision to shut down the federal government has left thousands of New Yorkers unemployed and unsupported,” she said in a statement.
“With the weekly maximum benefits increasing starting this month, we are able to uplift unemployed New Yorkers,” she added.
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New York unemployment assistance: When do changes come into effect?
The changes come into effect from October 13. To facilitate this increase in unemployment assistance, the government of New York authorized an additional $7 billion in the budget. This infusion of money meant that the unemployment insurance trust fund was made solvent after the COVID-era assistance had left it severely depleted, The City reports.
When many New Yorkers were left unemployed in 2020 due to the pandemic, the requirement for unemployment assistance funds increased drastically. The governor had to borrow money from the federal government to keep the fund afloat.
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Employers will also get relief
It is not just the unemployed New Yorkers who will receive extra benefits. Employers are also in line to get some relief. With the debt for the unemployment insurance trust fund now paid off by the government, employers will not face annual increase surcharge bills. This would mean savings of $100 per employee for the business owners, as per Newsweek.
Newly-unemployed persons can also claim the increased assistance by registering themselves with the government.
FAQs
How much more money is New York giving in unemployment assistance?
The New York government has increased the unemployment benefits by up to $365.
How many federal government employees have been left without pay in New York?
There are estimated to be 115,000 federal government employees who have been furloughed due to the shutdown.
When did the US federal government shutdown begin?
The US Government shut down at 12:01 AM on October 1.
