Opinion: California’s unemployment insurance system in crisis, needs a fix
California’s recent political history is studded with episodes of short-sighted, irresponsible governance.
It’s a two-headed crisis. Not only is the program itself under financed, unable to meet the demand for benefits during even a mild economic downturn, but the Employment Development Department that disburses those benefits has proven to be incompetent. To repay the debt, federal officials hiked payroll taxes on employers for the next decade. However, California politicians did nothing to shore up the fund and when more than 2 million workers lost their jobs in 2020, due to business shutdowns as the COVID-19 pandemic hit, the unemployment fund quickly ran out of money.
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