The congressional battles regarding the extension of unemployment benefits, the weekly unemployment insurance claims reports, and the monthly reporting of the national unemployment rate has kept the topic of unemployment in the news.
However, a related topic that has not received as much attention is the precarious state of the unemployment insurance system and how the underfunded status will affect employers, who pay for this mandated benefit.
According to UWC, an association of national and state business organizations, the costs of unemployment insurance (UI) for employers has increased from $31 billion in 2008 to $160 billion in 2010.
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