Monday, January 25, 2010

Two Dozen States’ Unemployment Funds in the Red, Nine More Within Six Months

The recession ramifications continue. According to projections, Arizona, Colorado, Hawaii, Kansas, Maryland, Massachusetts, New Hampshire, Tennessee and Vermont will find themselves in the red within six months.

This will mean tax hikes in most states and benefit cuts in many. Employers in 36 states face unemployment insurance tax increases ranging from a few dollars to nearly $1,000 per worker for 2010, and six states have taken steps to cut back or freeze benefits.

Hawaii will have the largest per worker increase in taxes of $980.

PorPublica has a full breakdown here.

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