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Unemployment Trust Fund Dwindling

By
Jon Lewis
@ July 31, 2009 6:50 AM
Permalink | Comments (3)

(WSB Radio)  If the economy doesn't turn around soon, Georgia's Unemployment Trust Fund risks running out of money.

Labor Commissioner Michael Thurmond says in December 2008 there was one billion dollars in the fund.  Today, that number is $596 million.

"The next 60 days are critical," said Thurmond.

Georgia paid out a record $300 billion in benefits last month.  The state received some $220 million dollars in stimulus money earlier this year, but there are some 200,000 Georgians drawing benefits.

"I am convinced that things will continue to get worse before they get better," Thurmond said. 

He says if he doesn't see the economy turn a corner soon, he'll have to look to other sources to replenish the fund.  Thurmond is just back from Washington where he was in meetings about the state's unemployment situation.

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What others are saying

  • unemployment benefits
    No wonder the state is running out of unemployment benefits! $300 billion paid out this past month!!!!
  • Typo's
    Typo's seem to happen a lot in reporting lately ? I am interested in a proofreading position.
  • Your facts seem incorrect
    Did you mean $300 million and not $300 billion?
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