State out of unemployment funds

HONOLULU (HawaiiNewsNow) - Your cousin's next unemployment check will be paid for with federal money.

The State Labor Department just sent word its unemployment fund is now insolvent.

In other words, it ran out of money for unemployment compensation because so many people are getting it.

Hawaii is the 33rd state to get to this point, so it was actually a long time coming to the islands.

The feds will lend the money, to be paid back in better times, so the checks will keep on coming.

Lately, Hawaii has been paying out about $25 million a month in unemployment benefits.

In normal times, the payroll tax, paid by employers on each worker, is more than enough to fund the checks.

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