California Unemployment Fund out of Money

Unemployment in Los Angeles County has doubled to 9.9% in the past year. It’s almost that high statewide. But the state’s unemployment insurance trust fund is about to run out of money. In 2001, benefits were expanded, but not the tax base that pays for them. Among those who predicted a crisis were the Legislative Analyst and the California Budget Project, where Jean Ross is Executive Director. We hear from Ross and from Jerry Nickelsburg, senior economist with the UCLA Anderson Forecast.