Unemployment Programs in Worst Shape Since 1935

Thursday, 20 Oct 2011 10:18 AM
By Greg McDonald

State unemployment insurance programs are in their worst financial shape since they were established in 1935 and their outstanding debts to the U.S. Treasury total $37 billion, according to a new report from the National Academy of Social Insurance.

“The current financing crisis in state [unemployment] programs can be described as a perfect storm resulting from the constellation of four factors,â€