Some New Mexico employers are feeling the pinch of an overhaul of New Mexico's unemployment insurance program that has taken effect with the new year.
The Albuquerque Journal reports that a change in the program's funding was approved by the Legislature in 2013 but with implementation delayed until 2015.
Employers with higher rates of using unemployment insurance in recent years now are being charged the highest rate. Employers' payments pick up the entire cost of the state's unemployment insurance trust fund.
In the case of one Albuquerque real-estate brokerage and property management company that recently had its first benefits claim in many years, the cost for one quarter of the year has risen from roughly $300 to over $2,900.
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