The state’s fund for unemployment benefits could run out as early as mid-October.
The Department of Workforce Development is making projections under three different scenarios. Right now, the department is getting more than 300,000 claims every week.
If that continues at the 300,000 level, the fund would be empty the week of October 11th. At 200,000 claims, the money would last until January 3rd of next year. At 100,000, the money would run out the week of September 19, 2021.
If the fund is empty, the state could borrow money from the federal government to continue to pay claims. That happened during the Great Recession, more than a decade ago.
