Unemployment money running low

February 2, 2009 1:55:52 PM PST
The fund that helps pay unemployment benefits in North Carolina is critically low.As of late Monday, there was only $16 million left.

In January, the Employment Security Commission fund paid out more than $200 million to people unemployed. Already this month, it's paid out nearly $90 million.

State leaders hope fourth quarter tax payments from businesses will be enough to sustain the fund.

The ESC told Eyewitness News emergency borrowing plans are in place if the fund runs dry. Those plans include a $540 million dollar line of credit with the federal government.


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