Unemployment Insurance Reform Could Create Jobs

A new report from the Mass. High Tech Council and the Pioneer Institute predicts that reforms to the Massachusetts unemployment insurance would create jobs.

Massachusetts pays unemployment benefits four weeks longer than most states and has less stringent eligibility requirements.

The report said changes, such as shortening the length of benefits and tightening eligibility, would pump more than $7 billion into the economy over the next decade.

Jim Rooney, vice president of the Mass High Tech council, said reforms would lead employers to create 10,000 new jobs.

"The assumption here is that when businesses have more money available to them, they will be more apt to hiring more workers, as well as new investments within the company itself, which will only accrue to the economy," Rooney said.

The report said the proposed changes would also generate $30 million in new tax revenue over the next decade.

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