State Jobless Fund Plummeting Toward Crisis

Summary


Mushrooming unemployment threatens to push West Virginia's jobless benefits fund to the breaking point by the end of the year, state officials said.

The compensation trust fund paid out more than $25 million in February, after jobless claims shot up by increasing monthly margins: by more than one-third in December, 40 percent in January and 50 percent last month.

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State Jobless Fund Plummeting Toward Crisis

Mike Moore, director of unemployment compensation, predicted that jobless benefits will exceed $300 million in 2009. It began ...

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