signaled in late April that the state would have to borrow from the federal government to make its payments.
The Empire State has paid out more than $10 billion, as of May 20, the state Department of Labor said. More than 3 million claims have been processed, as of late May. The state received federal authorization to borrow up to $4 billion. It will not have to pay interest in 2020, thanks to a coronavirus relief bill Congress passed in mid-March. last month with revenue from employers' unemployment taxes.
since states began mandating residents stay home and non-essential businesses to close in mid-March to slow the spread of the virus. Many of those orders have now been lifted, at least in part, but continuing jobless claims show 21.5 million people out of work. Federal and state spending on unemployment benefits totaled just over $172 billion, as of June 2, up from $12.7 billion at the beginning of March, according to Treasury Department data.
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