Issue Areas |
Economic Security IssuesEconomic Security IssuesMissouri's Unemployment Trust Fund Faces Major DeficitSeptember 28, 2010Like most states, Missouri experienced significantly high levels of unemployment during the recession, causing the state’s Unemployment Trust Fund to be depleted. As a result, Missouri and 30 other states turned to the Federal Unemployment Trust Fund to make ends meet. As of August 27th, Missouri has borrowed more than $722 million from the Federal Fund to finance benefits for unemployed Missourians. The amount of this debt is projected to increase to as much as $1.8 billion by 2013.
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