Friday, April 09, 2004

Jobless fund plunges $2B in 2 years

For those who think that re-employment alone will solve the problems.

Pull Quote: "The situation of the unemployment fund is similar to that of state pension funds."

Otherwise known as: the investments are underperforming.

Pull Quote II: "Without a change in state rules or in the economy, employers across the state will face higher payroll taxes to shore up the shrinking unemployment trust fund."

"changes in the state rules" translates to "taking more money from the state budget"; the other--well, let's just note that NJ is one of the better performing states over the past few years.

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