GCP Board Member and Founder and President of BIG-HR Cheryl Perez co-authored an opinion piece with GCP CEO and President Joe Roman about the need for reform of Ohio’s unemployment system. The pair remind readers that while Ohio’s economy has been relatively strong as of late, it is important to remember the lessons of the last economic recession.
That recession—in which the state’s unemployment rate rose to 11%--illustrated just how ill-prepared Ohio was to cover the costs of the unemployment system. When the federal government stepped in to provide a loan to Ohio to continue covering unemployment benefits, employers were left with paying for the bulk of the balance from that debt.
Perez and Roman call out the need for long-term solutions that lead the unemployment fund toward solvency, writing, “Now is a good time to learn from our past and fix Ohio’s unemployment system.”