Wednesday, April 29, 2009

Everything is bigger in Texas---Even Unemployment

According to the San Antonio Business Journal the number of jobless Texans receiving unemployment insurance benefits has increased by over 160% in the past year.
Last year, there were ~104,000 Texans receiving unemployment benefits. Today there are over 275,000 jobless Texans receiving weekly checks from the unemployment fund.
At the current rate, Texas' nearly $1 billion reserve for unemployment funds will be depleted in October, resulting in the need to borrow money from the federal government to help people out while they search for jobs.

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