News from Washington Post:

Some of the states that have drained their unemployment insurance funds are cutting the number of weeks that a laid-off worker can count on those benefits. Legislators are trying to limit tax increases for businesses to replenish the pool and are hoping the federal government keeps stepping in when the economy slumps.

Michigan, Missouri and Arkansas recently reduced the maximum number of weeks that the jobless can get state benefits. Florida is on the verge of doing so. Unemployment in those states ranges from 7.8 percent in Arkansas to 11.1 percent in Florida.

The benefit cuts come as legislatures deal with the damage that the recession inflicted on state unemployment insurance programs. The sharp increase in the number of people who lost their jobs drained the reservoir of money dedicated to paying out benefits.

About 30 states borrowed more than $ 44 billion from the federal government to continue payments to laid-off workers. Many states hastened the insolvency of their funds by keeping balanc……….. continues on Washington Post.

Continue Reading …


Related News:


Insurance for Dummies

Now updated — your guide to getting the best insurance policyAre you intimidated by insurance? Have no fear — this easy-to-understand guide explains everything you need to know, from getting the most coverage at the best price to dealing with adjusters, filing claims, and more. Whether you’re looking for personal or business insurance, you’ll see how to avoid common pitfalls, lower your costs, and get what you deserve at claim time.Get to know the basics — understand how to make good insur

List Price: $ 21.99

Price: