New Mexico Has Triggered Off of Tier III
Tier III of Emergency Unemployment Compensation to End July 7, 2012
For Immediate Release
June 26, 2012
Contact: Joy Forehand
(Albuquerque, NM) – The New Mexico Department of Workforce Solutions announced that New Mexico has triggered off Tier III of the Emergency Unemployment Compensation (EUC) benefits, effective July 7, 2012. Those Unemployment Insurance claimants eligible to claim Tier III benefits before July 7 will continue to receive remaining Tier III payments, up to 13 weeks, as part of a phase-out period.
"Based on the most recent data released last week, New Mexico’s unemployment rate has dropped in the last couple months, and this has resulted in changes to the availability of Tier III,” said Celina Bussey, Cabinet Secretary of the New Mexico Department of Workforce Solutions. “We will be working over the next couple of weeks to notify affected claimants."
The Middle Class Tax Relief and Job Creation Act of 2012 was passed by Congress and signed by President Obama in February 2012. The new law stipulated a number of changes to the EUC program, including new triggers for certain tier extensions. As of June 1, 2012, the new trigger for Tier III was a three-month rolling average unemployment rate of 7 percent, versus the previous trigger of 6 percent. With the release of the May unemployment rate, New Mexico’s three month average statewide unemployment rate fell below this threshold necessary to qualify for Tier III. The maximum Unemployment Insurance benefits a claimant may potentially be eligible for in New Mexico will be 60 weeks.