Unemployment trust fund projected to be insolvent by January

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Hit with a historic number of unemployment claims amid the coronavirus pandemic, the state's unemployment trust fund could start running into the red as early as this January, acting Labor Secretary Ryan Wright told lawmakers Wednesday.

The trust fund's balance during the pandemic has plummeted from about $1 billion to about $660 million as of Aug. 8.

Although final projections won't be known until November, the trust fund is expected to go about $100 million into the red as early . . .

SSJ

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