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…

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