Wisconsin's unemployment insurance trust could run out as soon as October, projections show

[TexasTowelie]

The trust funding unemployment insurance checks to thousands of jobless in Wisconsin could run out as early as October as the coronavirus pandemic cripples Wisconsin's economy, according to a projection from the Department of Workplace Development.

As of Wednesday, the unemployment insurance trust stood at over $1.9 billion, but due to a flood of claims, the trust is at risk of running dry this year, according to a press release from the department.

If the trust were to run out, the state would need to take a loan from the federal government, said Ben Jedd, the department's communications director.

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Read more: https://www.wausaudailyherald.com/story/news/local/wisconsin/2020/05/07/wisconsin-unemployment-insurance-trust-could-run-out-october/3088251001/

[sprinkleeninow]

1. all this is really sukking beyond measure

Hi, TT.
Thinking of you.

[TexasTowelie]

2. Thanks.

Unfortunately, it looks like the repercussions of the pandemic are going to be cuts in services to people at the state and local levels. While some will argue that the churches and other non-profits are going to pick up the slack, the truth is that philanthropic giving is also declining since people are concerned about whether they are going to hold onto their jobs or they are taking pay cuts in order to retain their jobs.

Some people believe that this is going to be a brief slide downward and everything will turn around quickly once the economy reopens. I don't see a rapid recovery myself, the tourism and music industries are going to change substantially while other sectors such as restaurants will have to also adapt (buffets converting to cafeteria style).

The stone is roiling downhill and there is a lot of momentum built up which is going to difficult to stop. The only good thing from a personal basis is that I managed to get a lot accomplished last week regarding my medical issues since I finally got into a physician, refilled all of my prescriptions, and also went to a podiatrist.

[sprinkleeninow]

3. Am glad for you and accomplishment in getting medical treatment how I read in your recent post.

Good outcome!

I have thinking [which is troubling] that our generation, the boomers especially, is witnessing a forever change. So disheartening. This stupid disease landed on us stealthily. And what with big klod in WH made matters astronomically worse. That's the really upsetting part.
💛