Friday, January 7, 2011

Unemployment Insurance: State Trust Fund Loans

The Federal Unemployment Account (FUA) provides for a loan fund for state unemployment programs to ensure a continued flow of benefits during times of economic downturn.
According to the U.S. Department of Labor, Employment and Training Administration, 30 states and the U.S. Virgin Islands are currently borrowing to cover unemployment benefits. Four
states, Maryland, New Hampshire, South Dakota, and Tennessee, have repaid their loans in full.
As of December 13, 2010, the most recent balances of outstanding state loans from the FUA are:

State

Loan Balance

as of Dec. 13, 2010

Began Borrowing

Alabama

$283,001,164.19

September, 2009

Arizona

$212,184,077.48

March, 2010

Arkansas

$330,853,383.31

March, 2009

California

$9,112,847,509.67

January, 2009

Colorado

$381,881,712.41

January, 2010

Connecticut

$498,452,705.05

October, 2009

Delaware

$24,840,505.48

March, 2010

Florida

$1,835,100,000.00

August, 2009

Georgia

$482,000,000.00

December, 2009

Idaho

$202,401,700.22

June, 2009

Illinois

$2,239,582,343.13

July, 2009

Indiana

$1,911,332,372.08

December, 2008

Kansas

$88,159,421.40

March, 2010

Kentucky

$795,100,000.00

January, 2009

Massachusetts

$387,313,005.04

February, 2010

Michigan

$3,810,391,759.10

September, 2006

Minnesota

$475,988,154.16

July, 2009

Missouri

$722,116,933.16

February, 2009

Nevada

$590,548,230.71

October, 2009

New Jersey

$1,749,563,533.38

March, 2009

New York

$3,176,873,427.71

January, 2009

North Carolina

$2,430,963,662.58

February, 2009

Ohio

$2,314,186,799.00

January, 2009

Pennsylvania

$3,008,614,960.83

March, 2009

Rhode Island

$225,472,937.00

March, 2009

South Carolina

$886,662,351.97

December, 2008

Texas

$1,699,051,361.86

July, 2009

Vermont

$32,657,064.94

March, 2010

Virgin Islands

$17,134,491.24

August, 2009

Virginia

$346,876,000.00

October, 2009

Wisconsin

$1,424,768,541.29

February, 2009

Total

$41,696,920,108.39

Source: U.S. Dept. of Labor, Employment and Training Administration.

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