Showing posts with label unemployment insurance fund. Show all posts
Showing posts with label unemployment insurance fund. Show all posts

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.