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State Unemployment Trust Fund Loans

Unemployment Insurance | State Trust Fund Loans

11/18/2014

The Federal Unemployment Account (FUA) provides for a loan fund for state unemployment programs to ensure a continued flow of benefits during times of economic downturn. According to the U.S. Department of Labor, Employment and Training Administration, nine states and the U.S. Virgin Islands currently have loan balances in their Trust Fund accounts.

As of Nov. 18, 2014, the most recent balances of outstanding state loans from the FUA are:

State

Current Loan Balance

Began Borrowing

Arizona

$38,430,077.83

July 2014

California

$8,103,140,575.20

Jan. 2009

Connecticut

$432,497,697.51

Oct. 2009

Indiana

$820,984,471.67

Dec. 2008

Kentucky

$338,949,914.21

Jan. 2009

New York

$1,245,283,330.25

Jan. 2009

North Carolina

$465,543,061.66

Feb. 2009

Ohio

$1,379,323,254.14

Jan. 2009

South Carolina

$270,490,526.64

Dec. 2008

Virgin Islands

$76,898,491.57

Aug. 2009

Total

$13,171,541,400.68

 

Source: U.S. Dept. of Labor, Employment and Training Administration.

NCSL Contact: Jeanne Mejeur
Unemployment Insurance Main Page

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