The federal Emergency Unemployment Compensation program is set to expire on December 29, leaving an estimated 90,000 people in Illinois without unemployment insurance.
After the end of program, 2,800 additional people per week will finish the state's regular unemployment insurance program and will not have access to the federal EUC.
The state's economy will be negatively impacted since for every $1 in unemployment insurance, $1.68 in economic activity is generated. The Illinois Department of Employment Security, a federally funded office, could also see cuts of up to $44 million annually, about 20 percent. The office has already vacated 10 outpost locations, consolidated eight offices, and has non-scheduled 216 intermittent employees.
The number of unemployment claims is currently 38 percent higher than prior to the recession. The state's regular unemployment fund is provided for by Illinois businesses that pay into the Unemployment Insurance Trust Fund.
The unemployment rate covers those who are out of work and seeking employment, even if they have exhausted benefits or are ineligible.
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