Tuesday, February 2, 2010

California's Unemployment Fund Problem

From the nonpartisan California Legislative Analyst's Office:

The Unemployment Insurance fund is currently insolvent. In its most recent fund forecast, the Employment Development Department projects that the fund will experience a year-end deficit of $7.4 billion in the 2009 calendar year, rising to $18.4 billion in 2010 and $27.2 billion in 2011.

Perhaps this explains why the unemployed might be having a harder time getting approved for benefits.

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