DLT: R.I. insurance trust fund down $138M, borrowing inevitable

SKYROCKETING UNEMPLOYMENT claims have taken $138 million out of the state's insurance trust fund since March, with borrowing inevitable, according to the R.I. Department of Labor and Training. / AP FILE PHOTO/ERIC GAY
PROVIDENCE – As state unemployment claims continue to rise, the money available to pay out benefits is going down. The state’s insurance trust fund had $391 million available as of Friday, down more than 25% from the $529 million balance in early March prior to the onset of the COVID-19 pandemic, according to R.I. Department…

Thanks for reading Providence Business News. Create your free account or log in to continue reading.

Register Now Already a Subscriber? Login now


If you have already logged in and are still seeing this message, please refresh the page as your browser is caching the old content.

- Advertisement -

Purchase NowWant to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.

No posts to display