Alabama's Troubled Trust Fund
For years, Alabama sustained one of the nation's lowest tax rates by offering some of the nation's lowest benefits. But when the recession hit, the state had only six months of reserves and ran out of money to pay benefits partway through 2009. To shore up the fund, Alabama businesses face an average tax increase from $119 to $267 per employee for 2010.
This news application is no longer being updated as of February 3, 2011. The historical data is still accurate.
|Bankrupt and Borrowing: Alabama's unemployment fund is currently bankrupt and Alabama is borrowing from the federal government.|
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|Borrowed Amount||Unemployment Rate (November)||Net Income (December)||Avg. Weekly Benefit||% of Unemployed
|National: 9%||Rank: 23 of 51||Rank: 50 of 51||Rank: 41 of 51|
Unemployment Reserves (millions)
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Sources: Google Public Data, Department of Labor, Treasury Department.