N.C. chips away at jobless benefit debt but continues borrowing |
Written by David Horn
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Thursday, 07 July 2011 09:37 |
(RALEIGH) -- Some people are getting unemployment benefits up to 99 weeks, but the state is responsible for paying for just the first 26 weeks. Larry Parker with the Employment Security Commission said the state cannot even afford that and has not for a while.
North Carolina continues borrowing from the federal government to pay benefits. But Parker said the state has made some progress in paying some of this money back. "We were up to about $2.8 billion. We're now down to $2.5 (billion), so we did pay some of that back. Of course, we're still borrowing but as we continue to collect taxes we do pay that down a little bit," said Parker.
He added that between June 2010 and May 2011, the state collected just over $1 billion in unemployment insurance taxes from businesses but paid more than $1.5 billion in benefits. During that period a total of more than $4.7 billion in state and federal money was paid out in unemployment benefits to North Carolinians.
(Thanks to: WWNC)
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