officials say hundreds of people could lose their unemployment
benefits if Congress fails to avert the so-called fiscal cliff. The federal
unemployment insurance program that has been providing additional weeks of
benefits to the long-term unemployed is set to expire.
Vermont’s unemployment rate is down one point over last year at this
time, to 5.7%. But the Unemployment Insurance Trust Fund that pays out
benefits to unemployed Vermonters remains insolvent, with the state
borrowing federal funds to keep paying benefits.
Vermont’s unemployment insurance trust fund became insolvent in January. Lawmakers and the governor announced a plan to fix the system, but not everyone supports it. And an interview with Jane Ambrose, retiring director of the UVM Lane Series.
Governor Jim Douglas and Democratic leaders have reached a compromise that will erase a growing deficit in the state’s unemployment insurance fund. The agreement calls for businesses to pay more, while workers will see a freeze in benefits.