State Jobless Funds – Utah

Officials wary as more state jobless funds go broke, By Tony Semerad, February 1, 2010, Salt Lake Tribune: “Policymakers are growing wary as Utah finds itself in an ever-shrinking group of states whose unemployment insurance trust funds haven’t gone broke yet. Last week, Colorado and New Hampshire became the latest of 26 states to declare their trust funds wiped out by the recession’s surge in jobless claims. Industry watchers predict as many as 40 states will run out of money for unemployment benefits before the economy rebounds. Insolvent states are being forced to borrow from the federal government, raise taxes or cut benefits to keep unemployment aid flowing. Borrowing states now owe the feds almost $30 billion and face cutting benefits further and increasing premiums on employers when the loans come due…”