Indiana insolvent on jobless insurance

Niki Kelly, The Journal Gazette

nkelly@jg.net

INDIANAPOLIS - Indiana is one of five states whose Unemployment Insurance Trust Fund is insolvent, according to a recent report on the preparedness of the nation heading into what could be a severe recession.

The fund is financed through taxes paid by businesses and provides unemployment payments to Hoosiers who are out of work through no fault of their own.

The National Employment Law Project examined the trust fund balances for all 50 states as of Sept. 30 compared with their average monthly benefit payments over the past 12 months.