WITHOUT RESTORING INSOLVENT UNEMPLOYMENT TRUST FUNDS AND INCREASING FEDERAL RESERVES, THE 2007- 2009 RECESSIONS MAY CAUSE THE DEPLETION OF THE UNEMPLOYMENT TRUST FUND

Author: 

Julie Tersigni

In light of the recent economic situation in the United States, more individuals have become unemployed, meaning that more individuals have filed for and have obtained unemployment benefits. The purpose of the Federal-State Unemployment Insurance Program is to provide unemployment benefits to workers who are unemployed “through no fault of their own” by giving temporary financial assistance to eligible recipients who meet state law qualifications. To provide temporary assistance, states usually fund unemployment compensation for individuals for twenty-six weeks. However, as a result of the decline in the American economy, Congress extended unemployment benefits up to ninety-nine weeks to help individuals who are currently out of work. View More