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Keyword: 8billiontransfer

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  • Labor Department Announces $8 Billion Transfer To State Unemployment

    03/16/2002 10:27:39 AM PST · by Tumbleweed_Connection · 4 replies · 245+ views
    OPA News ^ | 03/14/02
    U.S. Labor Secretary Elaine L. Chao today announced the transfer of $8 billion to state Unemployment Insurance trust funds from excess funds in the federal unemployment accounts. “I am pleased to see so much of the President’s proposal for short-term reform of the Unemployment Insurance (UI) and Employment Service (ES) programs become reality through implementation of the economic stimulus package,” Emily Stover Derocco, assistant secretary of the employment and training administration said. “The distribution comes at a time when many state trust funds have been reduced by the recession and will help mitigate the impact. These funds will also be...