Wisconsin unemployment fund could be depleted by October

Milwaukee unemployment rate hits new record low
Posted at 11:25 AM, May 07, 2020
and last updated 2020-05-07 15:13:21-04

MADISON, Wis. (AP) — Wisconsin could run out of money to pay unemployment benefits to workers who lost their jobs because of the coronavirus pandemic as early as Oct. 11.

The state Department of Workforce Development released that worst-case scenario Thursday.

Two other projections, which assume fewer unemployment payments, show the fund being depleted in January or September 2021.

Department spokesman Ben Jedd says if the state runs out of money, it could borrow from the federal government so the unemployed still receive benefit checks. That is what happened during the recession more than a decade ago.

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