News Sections
Unemployment Fund Deeper In The Hole Than Expected
Updated May 5, 2013 12:07 AM | Filed under: Network Indiana
 Print    Archive    RSS

(UNDATED) - Indiana's unemployment trust fund is half-a-billion dollars deeper in the hole than expected, and the red ink is expected to hit $700-million by year's end.

The news from Indiana's Department of Workforce Development reflects the state's soaring jobless rate, and comes on top of $1.1 billion dollars the state has already borrowed from the government to continue paying benefits.

Legislators passed a $700 million dollar bailout package this year that was expected to get the fund back in balance in three years.

With the updated figures, senate tax and fiscal policy chairman Brandt Hershman says that projection has doubled to six years.

« Previous Article
Next Article »

 Print    Archive    RSS

Have a question or comment about a news story? Send it to

Advertise with 1340 AM WBIW
Find more about Weather in Bedford, IN
Advertise with 1340 AM WBIW

1340 AM WBIW, Bedford's Place To Talk. Serving Lawrence and surrounding counties since 1948!

© 2018 Ad-Venture Media, Inc. All Rights Reserved. and Listen Live Powered by HPC

Advertise  |  Careers  |  Contests  |  About  |  Feedback  |  Public File