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Rhode Island borrows $90 million from US for jobless claims

This is the stable version, checked on 7 October 2009. Template changes await review.

Thursday, October 1, 2009

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Rhode Island will receive US$90 million in funding from the United States federal government to support unemployment benefits in the state.

Rhode Island in map of United States
Image: Rfc1394, Wapcaplet.

Rhode Island's Department of Labor and Training stated on Wednesday that it requested the line of credit because the account utilized to provide funding to unemployed individuals in the state had decreased to only $2 million; enough to last only a few days.

Unemployment insurance customers will not experience any delays in receiving their weekly payments.

—Department of Labor and Training, Rhode Island

In a statement released by the Department, the agency said: "Unemployment insurance customers will not experience any delays in receiving their weekly payments."

Unemployment in Rhode Island was 12.8 percent in August 2009 – the third-highest rate in the United States. During the first eight months of 2009, Rhode Island's state unemployment insurance trust fund has provided over $300 million in unemployment benefit funding.

In addition to Rhode Island, 20 other states have outstanding balances on money they borrowed from the Federal Unemployment Account of the United States Department of Labor. Rhode Island has an outstanding balance of approximately $90.68 million due to the account. The loans are interest-free until December 2010.


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  This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

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