- Cape student sues, accuses school officials of slamming her to ground multiple times (04/28/16)45
- Bob Evans restaurant in Cape Girardeau among chain's 21 closings (04/26/16)9
- Missouri House votes to allow concealed weapons without permits (04/28/16)6
- Two hurt in motorcycle wreck on Interstate 55 (04/25/16)1
- Law firm requests information about Cape's traffic cameras (04/25/16)2
- Local lawmakers split over failed medical marijuana bill; voters may have a say (04/26/16)19
- Police report filed, but no charges in incident at Cape Central (04/29/16)36
- Tanker truck catches fire near Oak Ridge (04/24/16)7
- Local company makes eco-friendly kitty litter that cuts cat-box smell (04/25/16)
- Senator introduces bill for I-57 that would connect Sikeston with Little Rock (04/28/16)4
Missouri jobless benefits fund going broke, again
JEFFERSON CITY, Mo. — Missouri may soon have to borrow money to pay benefits to the rising number of unemployed people.
State labor director Todd Smith said Monday that Missouri may have to borrow about $40 million from the federal government before April to pay jobless benefits.
He said the state should be able to quickly repay that amount. But a bigger problem is looming.
By the end of 2009, Smith said Missouri's unemployment fund is likely to be insolvent.
That would mark the second time this decade that Missouri's jobless fund has gone broke.
Missouri borrowed nearly $444 million from the federal government to pay jobless benefits between March 2003 and April 2006. The state finished repaying that in May 2007.