What Is Unemployment Insurance?
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What is unemployment insurance?
Unemployment insurance (UI) is a government program to help workers who have lost their jobs through no fault of their own. It provides temporary income until unemployed workers are able to find new jobs. Unemployed workers who quit their jobs voluntarily or were fired for a good reason are not eligible for benefits. Generally the benefit rate for eligible workers is 50% of their average weekly income, up to a fixed maximum set by the state.
Who runs the unemployment insurance program?
The New Mexico Department of Workforce Solutions (NMDWS) runs the unemployment insurance program in New Mexico. The NMDWS makes the final decision about whether or not an unemployed worker is eligible for unemployment insurance. The state government makes the laws about the New Mexico unemployment insurance program, but must follow rules set by the federal government.
Employers throughout the state must make quarterly payments to the NMDWS to fund the unemployment insurance program. The amount each employer must pay depends in part on how many former employees received unemployment insurance payments the previous year.
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