Wisconsin's unemployment insurance trust could run out as soon as October, projections show [View all]
The trust funding unemployment insurance checks to thousands of jobless in Wisconsin could run out as early as October as the coronavirus pandemic cripples Wisconsin's economy, according to a projection from the Department of Workplace Development.
As of Wednesday, the unemployment insurance trust stood at over $1.9 billion, but due to a flood of claims, the trust is at risk of running dry this year, according to a press release from the department.
If the trust were to run out, the state would need to take a loan from the federal government, said Ben Jedd, the department's communications director.
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Read more: https://www.wausaudailyherald.com/story/news/local/wisconsin/2020/05/07/wisconsin-unemployment-insurance-trust-could-run-out-october/3088251001/
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