Boston Globe: "Massachusetts jobless fund is $115 million in the red"

"After months of delay, the Baker administration chose New Year’s Eve to deliver the news: The state fund that pays jobless benefits has a deficit of about $115 million.

Trying to bury bad news just before the weekend or a holiday is standard PR practice for companies and politicians alike. But you know what? Governor Charlie Baker’s team chose a sleepy Friday and last day of the year to release news that is . . . not too bad.

It’s no surprise the Massachusetts unemployment insurance trust fund is in the red after the state paid out a total of $22 billion in jobless benefits in 2020 and $11.8 billion in 2021. In 2019, payments ran about $1.6 billion."

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https://www.bostonglobe.com/2021/12/31/business/massachusetts-jobless-fund-is-115-million-red/

The administration of Governor Charlie Baker hasn't provided a timetable or amount for a potential sale of bonds to help replenish the state's unemployment insurance trust fund. JONATHAN WIGGS/GLOBE STAFF