State employment fund draining fast...

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State employment fund draining fast...

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Story Published: Jan 8, 2009 at 5:55 PM CDT

Story Updated: Jan 8, 2009 at 6:04 PM CDT

01/08/09

Idaho Department of Labor officials are warning lawmakers that the state's unemployed insurance trust fund is being quickly drained down.

Labor Department Spokesperson Bob Fick says Idaho paid out nearly $9-million in state unemployment benefits during just the first week of 2009.

The fund, which had nearly $320-million in November 2007, had dropped to $232 million 1-year later and it could go down to $22 million or less by early next year unless the economy turns around.

State and local jobless figures for December are scheduled to be released tomorrow, but Fick cautions the news likely won't be good.

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