Submitted by 10/29/09 , Click: , Source: insurance news net
Rising unemployment has now forced 22 states, including Florida, to borrow money from the federal government to keep paying unemployment insurance benefits, and another 10 states are expected to follow suit soon.
That's the conclusion of a new analysis this week by ProPublica.
Among the dozen states that have been forced to tap into at least a half-billion apiece to stay afloat, Florida stands out.
No, it hasn't borrowed the most money. That would be California at a whopping $4.6 billion. But none of the other big borrowers are paying out less money to beneficiaries. Florida's average weekly benefit amount is $239.70. By comparison, 30 states in the country pay out more than $300 a week in benefits, led by Massachusetts at $427.20 a week.
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