Monday, December 8, 2008

New Jersey's Unemployment fund is running on empty

Surge in jobless claims taps out New Jersey unemployment fund

by Dunstan McNichol/The Star-Ledger
Monday December 08, 2008, 12:05 AM

A surge in jobless claims has battered the fund that bankrolls unemployment benefits in New Jersey, exhausting all of the $260 million emergency infusion sent five months ago and raising the prospect taxpayers will be asked for more.

An additional subsidy early next year for the state's Unemployment Insurance Trust Fund, either from the state or federal government, is not "a definite," Gov. Jon Corzine said in an interview last week. But he added: "We need to be planning."

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