Wisconsin Unemployment. Wisconsin continues to borrow federal money at a record pace to help replenish state’s unemployment fund. The state Department of Workforce Development confirmed that Wisconsin’s unemployment debt has reached $1.42 billion. The projected deficit will be nearly $2.9 billion by the end of 2011.
Wisconsin unemployment benefits pays an average of $290 a week to the jobless. It is funded by employer taxes. Once the fund is depleted, Wisconsin taxpayers could see higher taxes and lower benefits.
Wisconsin’s state unemployment rate dropped in April. Officials say 16,400 jobs were added in the largest one-month jump in more than 14 years. Department of Workforce Development Secretary Roberta Gassman said the evidence signaled the state’s continued economic recovery. Currently, the state unemployment rate is at 8.5%, down 0.3% from March. It’s well below nation’s unemployment rate at 9.9%.
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