A ProPublica report says Georgia is at risk for running out of unemployment insurance funds
More unemployment claims for Georgia in May means more benefits the state pays out to the unemployed, and a new report says Georgia is at risk for running out of benefit money.
14 states have borrowed money from the federal government to fund unemployment insurance. A ProPublica report says Georgia could soon be in the same situation. However, Sam Hall with the Georgia Department of Labor says with over $700 million in the bank, it's highly unlikely. Even though Hall says there's no immediate need, he says they're not speculating on when we could or would need help.
"That depends on the length and severity of the recession," Hall said. "Because there is a constant stream of money coming into the unemployment insurance trust fund from the unemployment insurance taxes that employers pay."
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