Coming $50 Billion State unemployment bill

[Robert Oak]

Over on The Economic Populist, manfrommiddletown has a damning analysis of an upcoming crisis for paying unemployment benefits.

In The Coming $50 Billion State Unemployment Bill

$10.9 Billion.

That's the amount of money currently lent by Federal Department of Labor (DOL) to a group of 15 states whose unemployment insurance (UI) trust funds have run dry. And it's about to get a whole hell of a lot worse. By the end of the year that number will likely have have grown to 35 states. Total DOL emergency loans to states at that time? Nearly $50 billion dollars. The situation will be far worse for some states than others. The states appearing in red on the map below are those that will need DOL loans to keep unemployment benefits rolling.

The post has a series of maps and states in trouble (that's 35!)

Here's the raw link:

http://www.economicpopulist.org/content/coming-50-billion-state-unemployment-bill

[customerserviceguy]

1. Late last year, I had a choice

I could either take a part-time job that would pay a bit less than unemployment (my company was eliminating my job as of 12/31/08), or just try to ride it out on UC until the job market picked up. I took the PT job, and am glad I did. It's steady work, and will continue to be throughout the recession (union job with a utility company), and I'm not one of the folks sweating out whether or not UC benefits will be extended.

[Robert Oak]

2. I hear ya

and right on for unions. I see union jobs that pay about as much as have way better benefits that the supposed "professional career" jobs. What's wrong with this picture?

[Po_d Mainiac]

3. Another bomb ticks away k & r n/t