MEMORANDUM
TO: Senator Michael Rodrigues, Chair, Senate Committee on Ways and Means
Representative Aaron Michlewitz, Chair, House Committee on Ways and Means
Senator Patricia D. Jehlen, Chair, Joint Committee on Labor and Workforce
Development
Representative Kip Diggs, Acting Chair, Joint Committee on Labor and
Workforce Development
Michael D. Hurley, Senate Clerk
Steven T. James, House Clerk
FROM: Lisa M. Hemmerle, Director, Department of Economic Research
DATE: June 14, 2024
SUBJECT: JUNE 2024 UNEMPLOYMENT INSURANCE TRUST FUND INFORMATION
The following information relates to the reporting on the Massachusetts Unemployment
Insurance Trust Fund ("UI Trust Fund") for the month of May 2024.
As of May 31, 2024, the preliminary UI Trust Fund ending balance was $2.74 billion.
Year-to-date through May 31, 2024, preliminary employer contributions totaled $771.77 million.
Year-to-date through May 31, 2024, DUA paid $1.02 billion in benefits for regular UI for 396,790
initial and continuing claims.
In response to the COVID-19 pandemic, the federal government enacted laws and developed
programs to provide expanded and enhanced federal unemployment insurance benefits to
affected individuals. Such federal programs were administered by the Commonwealth primarily
through the Executive Office of Labor and Workforce Development (EOLWD). In connection
with the Commonwealth’s fiscal 2022 audit, EOLWD undertook a reconciliation of federal
funding received during fiscal years 2020 through 2023 with respect to these expanded and
enhanced unemployment insurance programs developed and required by the federal
government. Such reconciliation identified $2.491 billion drawn by the Commonwealth from
federal funding sources in fiscal years 2020 through 2022 in error. The amount that may be due
to the federal government, and the timing, method, and source of such reimbursement, are
currently unknown. The Commonwealth is engaged in discussions with USDOL to resolve this
matter. The beginning balance of the Unemployment Compensation Trust Fund in the fiscal
year 2022 ACFR was restated and reduced to account for the results of this reconciliation for
fiscal years 2020 and 2021. 1
The UI Trust Fund data is also available at Mass.gov/UITrustFund in the form of data
visualizations spanning from May 2023 through May 2024.
1
See Exhibit C – Annual Comprehensive Financial Report for the year ended June 30, 2022; Pages 26-27 and Note
1T to the Basic Financial Statements.