Arkansas's Troubled Trust Fund
The state's trust fund was hard-hit by an economic downturn in 2004-2005, and thus entered the current recession with less than three months in reserve, not nearly enough to survive the subsequent spike in claims. An average business tax increase from $259 to $300 per employee, and increased restrictions on benefits for people who are fired for misconduct, will slow down the state's borrowing, but Arkansas is still on track to owe hundreds of millions of dollars before the recession is over.
This news application is no longer being updated as of February 3, 2011. The historical data is still accurate.
|Bankrupt and Borrowing: Arkansas's unemployment fund is currently bankrupt and Arkansas 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: 25 of 51||Rank: 31 of 51||Rank: 2 of 51|
Unemployment Reserves (millions)
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Sources: Google Public Data, Department of Labor, Treasury Department.