May 1, 2024
Nominees for AIM Board of Directors
The Governance and Nominating Committee of the Associated Industries of Massachusetts Board of Directors has put forward the…
Read MorePosted on May 28, 2013
Associated Industries of Massachusetts has repeatedly suggested to state lawmakers that any cost of doing business that is higher here than in other states ought to be examined to determine the best way to address our anti-competitiveness.
Unemployment Insurance (UI) is an area that cries out to be addressed. Massachusetts UI costs, driven by our state’s high wages, relatively lenient qualification requirements and overly generous benefit structure, drive our costs to a level that is the highest in the country. In a recent white paper entitled, Measuring Up, the Cost of Doing Business in Massachusetts, the Pioneer Institute details the impact of the state’s business costs on job creation in the Commonwealth. One area singled out for particular attention in the report is the UI system.
AIM’s Unemployment Insurance reform proposal, contained in House Bill 1732 and reflected in other bills, seeks to introduce approximately $200 to $260 million in one-time and recurring cost savings into the system by the following reforms:
These reforms represent a significant savings for employers and an opportunity to improve the state’s UI system and freeze rates without jeopardizing the long-term solvency of the Trust fund.