Labor secretary raises concerns about solvency of state unemployment fund

Labor secretary raises concerns about solvency of state unemployment fund

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State Roundup: Labor Secty raises concern over jobless trust fund; just as it got started, transportation project group is disbanded

LABOR SECTY RAISES CONCERN OVER SOLVENCY OF STATE JOBLESS TRUST FUND: Maryland’s unemployment insurance trust fund faces potential solvency issues that could worsen in the wake of massive federal employee layoffs or a recession. Labor Secretary Portia Wu told members of the Joint Committee on Unemployment Oversight that the state’s insurance trust fund of $2 billion currently meets federal solvency requirements. But she said that picture could c…

Maryland Faces Critical Challenges in Unemployment Trust Fund Solvency and Transportation Planning

Maryland’s Labor Secretary Portia Wu has raised concerns about the solvency of the state’s unemployment insurance trust fund, which currently holds $2 billion and meets federal requirements. However, Wu warned that economic downturns and increased unemployment rates could rapidly deplete the fund, posing a significant risk to the state’s ability to support unemployed workers. This issue underscores the fragility of state safety nets in the face …

State Roundup: Labor Secty Raises Concern Over Jobless Trust Fund; Just As It Got Started, Transportation Project Group Is Disbanded

LABOR SECTY RAISES CONCERN OVER SOLVENCY OF STATE JOBLESS TRUST FUND: Maryland’s unemployment insurance trust fund faces potential solvency issues that could worsen in the wake of massive federal employee layoffs or a recession. Labor Secretary Portia Wu told members of the Joint Committee on Unemployment Oversight that the state’s insurance trust fund of $2 billion currently meets federal solvency requirements. But she said that picture could c…