Unemployment Trust Fund Update, April 2014

During and after the recession, many states exhausted their unemployment trust funds—the funds from which states pay unemployment benefits—due to high unemployment rates and the extended length of time many people have been without work. At its peak in 2010, 31 states plus the Virgin Islands were borrowing nearly $40 billion. That number is down dramatically: as of April 23, 2014, 17 states plus the Virgin Islands had balances on their loans totaling $21.9 billion.

Source: U.S. Department of Labor, http://workforcesecurity.doleta.gov/unemploy/budget.asp