Governor George H. Ryan commends business and labor leaders for coming together twice during the last week and discussing their positions on possible reforms to the Unemployment Insurance Trust Fund financed through state payroll taxes. It is good that we all are working together to make sure that the system works for employers and employees. The Unemployment Insurance Trust Fund is sound.
All parties involved say their priority is to maintain the fund's integrity and strength.
Both business and labor leaders agreed that consideration of potential changes be postponed until after Labor Day in order to allow more time to monitor the Unemployment Insurance Trust Fund, unemployment trends, and the general economic outlook over the summer. The Governor will reconvene business and labor leaders in September with the goal of continuing discussions on unemployment insurance issues. I'd like to thank Governor Ryan for organizing our meetings so that we could have an honest dialogue on the financing of the Unemployment Insurance Trust Fund. We are talking frankly and openly about how to best provide for the working men and women of Illinois.