INDIANAPOLIS (AP) — A state official says Indiana’s unemployment insurance trust fund will be depleted in September if Hoosiers continue seeking assistance for joblessness at the current pace.
The fund provides jobless benefits for the unemployed. Data from the U.S. Department of Treasury shows that it had about $886.8 million in early March, before the coronavirus pandemic. But The Indianapolis Star reports that the fund’s balance had fallen to $171.8 million as of Aug. 5.
The Indiana Department of Workforce Development’s chief of staff, Josh Richardson, says that if the current pace of payments from the fund continues it will be exhausted sometime in September.
(This story was originally published on Aug. 8, 2020)
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