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.”

January 29, 2009

Cuts May Lead to Layoffs for 15,000 NYC Teachers

Thousands of New York City teachers may be forced to learn a harsh lesson in economics, if the state and city decide to follow through with proposed education budget cuts.

Chancellor Joel Klein told state lawmakers that some 15,000 jobs may be lost if proposed cuts — $700 million in state aid and a $500 million in city funding — slash the education budget.

Source: 1010 WINS

December 5, 2008

RealNetworks: 130 layoffs in Seattle, SF, NYC

According to The Seattle Times: “RealNetworks disclosed today that it’s cutting 130 jobs across its locations in Seattle, San Francisco and New York. Spokesman Bill Hankes said the cuts include 39 in Seattle. He’s got more details on his corporate blog.”

November 24, 2008

New York May Lose 225,000 Jobs, Comptroller Says

According to Bloomberg: “New York may lose as many as 225,000 jobs and $6.5 billion in securities industry-related tax revenue over the two-year period ending in October 2009, state Comptroller Thomas P. DiNapoli said.

In a report published today, he predicted financial- industry job losses may total 38,000 by October, with 10,000 more jobs lost in banking, insurance and real estate. Those losses could spread throughout the private sector, taking out as many as 225,000 positions statewide, he said. “

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