Are Your State’s Unemployment Funds Running Out?
The experts say the economy is starting to recover, but unemployment rates still remain high across the country. In many states, so many workers have been unemployed for so long that state funds for unemployment are running out.
Why the shortfall? There are several factors to consider, including the massive surge in people filing for unemployment benefits, the extended length of many benefit claims and poor budgeting and planning by some states.
The shortfall has forced many states to borrow from the federal government and go into debt to keep paying benefits to out-of-work individuals in their state. In many cases, these benefits are the only form of income for some families, many of which have sought relief with Chapter 7 bankruptcy laws.
Is your state in trouble? Find out which states are already in the red, and which are going broke.
Are Your State’s Unemployment Funds Running Out
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