Lessons Left Unlearned: Unemployment Insurance Financing After the Great Recession

Source: Mike Evangelist, National Employment Law Project, Briefing Paper, July 2012

From the press release:
Thirty states will have to pay back nearly $1 billion by the end of September for federal funds borrowed to cover unemployment insurance, but a new analysis from the National Employment Law Project finds that much of the financial pain facing these states could have been avoided with more responsible financing of their rainy-day funds leading up to the Great Recession. With jobless fund debt that peaked at $50 billion in 2011, many states are now slashing the safety net designed to help unemployed workers – even though the main source of the debt, the NELP report shows, was unsound and unnecessary employer tax breaks during better economic times, leaving states unprepared for the recession.

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