Ohio running low on unemployment money

COLUMBUS, Ohio — With unemployment rising, state officials warn that Ohio’s fund for paying jobless benefits is dwindling and could be empty by next month.

When that happens, the state will be forced to take out a federal loan to keep the unemployment checks flowing, for the first time in 26 years.

Gov. Ted Strickland says he’s asking Congress for federal aid to replenish the fund, so the state won’t have to borrow. If Ohio were to have trouble paying back a loan, it could face high interest costs and the threat of automatic tax increases on the state’s employers after two years.



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s