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February 6th, 2009
12:06 PM ET

States' Jobless Funds Run Low

Valerie Bauerlein
Wall Street Journal

A growing number of states are running out of cash to pay unemployment benefits, a sign of how far social-welfare systems are being stretched by the swelling ranks of the jobless in the deteriorating U.S. economy.

Unemployment filings have soared so high in recent months that seven states have already emptied their unemployment-insurance trust funds, which were supposed to see them through recessionary periods. Another 11 states are in jeopardy of depleting reserves by year's end, according to the National Conference of State Legislatures, which published a January report entitled "The Crisis in State Unemployment Trust Funds."

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Filed under: 360° Radar • Economy
soundoff (3 Responses)
  1. bill

    the state of indiana no jobs who get pay at $7.25 a hours and live
    on that bill are going to the roof no salt for roads no mnoey for people
    poor people can not talk to you with a computers why no money
    no life no cars no jobs no people too work jobs taxes to die
    poor is the working poor too add that too your list by the way if we get
    the money to the state of indiana will that let people work here
    for jobs or will that be hired out too other people in other state or
    if they bids for jobs will that be people in are state getting jobs here
    or other people from other state get the jobs thank you u s a
    we can not buy any thing here at all why where the money help us now who can go too colleges no mnoey here at all

    February 9, 2009 at 5:15 am |
  2. Annie Kate

    Unemployment isn't much of a help but it is something and without it I don't see what the unemployed would do with no lifeline to help them through a very dry period in their careers. So many things are running out of money it makes you wonder just where has all the money gone to?

    February 6, 2009 at 6:10 pm |
  3. Vicki Adams

    It is sad to me as a multiple business owner when someone mentions to me "unemployment benefits". I recently bought a business where the previous owner, after closing, filed for unemployment and received benefits. This, in turn, cost me more money by being forced to contribute to my experience account. I also had another employee that quit and quickly found another job that payed cash. She, too, collected unemployment at all taxpayers expense. The examples above are what I consider shameless oversights that have been taking place for years. People lying to receive benefits and people allowing it to happen. And people question why small business owners aren't hiring people. Why would I? I realize the scope of our economic crisis in America is far beyond these examples, however, perhaps the underlying message in it all is this: we are spoiled and consider only ourselves far too often....and we almost think we are "owed" something.
    Disgruntled

    February 6, 2009 at 12:25 pm |