Ohio Unemployment Fund Low on Money

Save

Posted: 4:45 PM Nov 12, 2008
Last Updated: 4:45 PM Nov 12, 2008
Reporter: The Associated Press
Email Address: news@wsaz.com

3 comments

A | A | A

COLUMBUS, Ohio (AP) - Governor Strickland is pushing for federal
aid to cover the state's dwindling unemployment compensation fund,
which could be empty next month.

The move comes as Ohio's unemployment rate is 7.2 percent --
higher than the national average. The state is bracing for more job
losses in the auto industry and air-express industry.

Strickland is asking Congress for aid to replenish Ohio's
Unemployment Compensation Trust Fund so the state won't have to
borrow the money from the federal government.

As of Friday, the trust fund balance was $325 million, down from
$594 million a year ago and far below the state's minimum safe
level of $2.5 billion.

The state pays out more than $100 million a month in benefits.

More Stories
Charity that Serves W.Va. & Ky. Halts Local Services, Cuts Staff

Kroger Tries New Coupon Program

Japanese Restaurant to Open in Barboursville

UPDATE: Cabell Huntington Hospital Lays Off 40

W.Va. Budget Surplus Reaches Nearly $75 Million

Beshear Urges Kentuckians to Apply for Tax Credits

W.Va. Money Managers Hope Worst is Over

UPDATE: AK Steel to Fire up Furnace, Some Workers Returned Monday

Comments are posted from viewers like you and do not always reflect the views of this station.

Posted by: mark on Nov 13, 2008 at 09:54 AM
perfect timing or should i say should've considered that before pushing so hard against issue 6.also those same unemployed sure could use the issue 5 deal right now.So thank to our do nothing Ohio government.just beg from the feds,ask them to bail out ohio now since the people in columbus can't govern properly.

Posted by: shawn on Nov 13, 2008 at 09:29 AM
well if he hadn't closed out the pay day lending companies, there would 6000 people working there. that was real bright! one day he may learn from his mistakes, but how long can the good people of Ohio keep there heads above water. we will now lose everything since he put issue no. 5 into effect.

Posted by: Redbuttons on Nov 12, 2008 at 07:14 PM
A few job sites seem appropriate right about now - www.linkedin.com (professional networking) www.indeed.com (aggregated listings) www.realmatch.com (matches jobs based on your skills) Good look to those looking for work!

$cms.template("REDESIGN ${item.templateSelect}")

A look inside the 'West Point' of capitalism
For 100 years, it's been one of the most influential schools in the world. But what's it really like to go to Harvard Business School? CNBC takes a look in this special report.
McDonald's has a big appetite for China
McDonald’s has found a formula for success in China – but it hasn’t been an easy recipe. . By CNBC's Wally Griffith.
Greenspan: Economy 'on the brink' of recession
Former Fed Chairman Alan Greenspan said that the housing market is “nowhere near the bottom” and that the economy is “right on the brink” of slipping into recession.
At 85, Sumner Redstone is still going strong
Sumner Redstone has done more in the two decades since he turned 65 than most people do in a lifetime. And the Chairman of CBS and Viacom says he has no plans to step down.

	SOMC Very good things are happening here
	Prudential Bunch Since 1959 unequaled performance
	Moms4Moms By moms, for moms
	WV Lottery Nightly drawings and numbers
	WVA Electric Visit our unique lighting lab
	Big Sandy For all your furniture and appliance needs
	Budget Blinds The best in custom window coverings
	Smackdown Live Watch & Win: Win 2 tickets to Smackdown Live
	Healthy Tri-State Live a healthier lifestyle in 2009

WSAZ Mobile