LayoffBlog.com

February 2, 2009

States’ unemployment funds dwindling.

New York, “is running on empty when it comes to unemployment insurance. The state borrowed $120 million from the federal government to pay jobless benefits in 2008, and the fund was broke again on the first day of business this year. What’s more, the weekly benefits are completely inadequate given our high cost of living. Albany saw this problem coming and did nothing to solve it.”

“A spokesperson with the Nevada Department of Employment, Training and Rehabilitation says $533 million dollars in the fund currently could be gone by the end of this year. Mae Worthey also says the department may have to tap into federal funds to make sure those who are unemployed get their benefits.”

In California, “According to the Employment Development Department, the state pays about $30 to $34 million a day in unemployment benefits. It will have to rely on a $2 billion federal loan to get through March.”

“With Missouri’s jobless rate at 7.3%, the fund that pays unemployment benefits will be broke in two weeks. The unemployment trust fund has about $37 million dollars in the bank and it pays out around $20 million dollars a week.”

“With South Carolina set to release its latest unemployment numbers, businesses and lawmakers are contemplating tax hikes as one way to fix a system that needs to borrow hundreds of millions of dollars from the federal government so residents continue to get benefit checks.”

4 Comments »

  1. If the employers could fire H1-B visa holder first and hire foreign workers last, the government would save more money on expense of jobless benefits. Many of H1-B visa holders are working on Accounting, HR, and Sales positions. However, it is no necessary to hire foreign workers. Removing those foreign workers will not affect American economy or tech at all.

    Comment by bhb — February 2, 2009 @ 10:13 am | Reply

  2. Somethings happening here. What it is, aint exactly clear.

    Comment by joe — February 2, 2009 @ 12:10 pm | Reply

  3. #1: Is the trashing of H1-Bs starting again? Once things turn around, people will remember being treated like shit, and because we rely on those people to innovate because we have become to lazy and bloated ourselves, we will lose the competitive edge. Corporate greed is to blame, not people we brought in because we needed them and want to dump like trash bags now. The working class tears itself apart over the scraps of the fat cats and people like you are responsible.

    Comment by myphotoscout — February 2, 2009 @ 4:38 pm | Reply

  4. The old bank commercial saying “We Make Money the Old Fashion Way – We Earn It” is gone forever, but not gone is the old saying “Stick Them Up” it’s just whose saying it:

    http://ourcountryspresident.wordpress.com/2009/02/21/have-banks-forgot-how-to-compete/

    Comment by Tom Awtry — February 21, 2009 @ 5:19 am | Reply


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