Nevada in dire straights

Unemployment insurance is in dire straits in Nevada as the state continues to borrow money from the government to keep its unemployment benefits afloat. The situation is so severe that the benefit fund is not expected to recover until 2018. Reports suggest that the problem shows no sign of abatement as Nevada continues to experience jumps in its unemployment rate since November, 2010. The Employment Security Council raised unemployment tax on business by .77% in 2010, bringing the tax rate to 2% in an effort to offset the deficit. While…

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