Missouri's Unemployment Fund Falls Deeper into Debt

7 years 8 months 4 weeks ago Wednesday, October 20 2010 Oct 20, 2010 Wednesday, October 20, 2010 4:55:10 AM CDT October 20, 2010 in News
JEFFERSON CITY - The state's unemployment insurance fund, which pays benefits to jobless Missourians, is riddled with its deepest debt of the recession.

The state has borrowed $722 million from the federal government to continue the payouts, said Amy Susan, a state Labor Department spokeswoman.

Employers, who pay taxes into the fund, are responsible to pay back the debt.

The state's borrowing has increased as the recession drags on -- about 142,000 Missourians are now drawing unemployment checks from the fund. Missouri's jobless rate remained at 9.3 percent in September.




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