- Associated Press - Tuesday, July 14, 2015

ALBANY, N.Y. (AP) - New York labor officials say the state’s interest assessment surcharge on unemployment insurance is dropping this year for the average business to less than $1 per employee.

According to the Labor Department, revisions in the program and an improved economy have led to a positive balance in the state’s Unemployment Insurance Trust Fund for the first time since 2009.

The interest assessment surcharge rate has dropped from $21.25 per employee in 2011. It’s scheduled to be phased out next year.

It’s used to repay interest on funds borrowed from the federal government to pay unemployment claims that exceeded the fund balance.

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