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New York Unemployment Fund Nears Insolvency as Claims Skyrocket

  • Trust about 10 weeks away from running dry: Tax Foundation
  • Empire State may have to borrow from federal government
From Schools To Bars, Closures Spread In America's Big Shutdown
Photographer: Demetrius Freeman/Bloomberg

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New York is the epicenter of the coronavirus pandemic. It’s also among the states least prepared to deal with the record surge of unemployment claims by workers in restaurants, retail shops and hotels closed to slow the outbreak.