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Unemployment claims skyrocketed last week, nationally and in New Mexico: The weekly initial unemployment claims for the past week suggests that the U.S. economy came to a screeching halt, with millions of Americans losing their jobs and with the unemployment rate likely already 10% right now, and rising. New Mexico is following that model too with More than 28,000 New Mexico residents applying for unemployment benefits last week, over 50% more than the amount filed the previous week.  NMBC is glad employees have options for unemployment benefits during this crisis and we are working hard to ensure employers are not penalized with increased unemployment insurance taxes too.

Help for employers; payroll and other financial assistance is available:  For anyone who would like to apply for the federal Paycheck Protection Program or the COVID-19 Economic Injury Disaster Loan, you might consider registering for one of these webinars put on by the New Mexico Small Business Development Center.  Time is of the essence in applying for these assistance programs because the money available is being dispersed on a 'first come, first served' basis.

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