Washington’s unemployment compensation fund is among the healthiest in the nation, according to a study by the National Employment Law Project.
With $2.1 billion in reserves as of March 31, the study ranked the Washington system ninth strongest among the 13 still solvent after more than two years of heavy job losses around the United States.
The reserves, more than twice that of any other state, are enough to sustain payments for another 10 months.
The $1 billion in the Lousiana fund will cover payments there for the next 21 months.
California, with a deficit of $8.4 billion, is the most insolvent of the 33 state funds that have turned to the federal government for $38.7 billion in loans that allow them to continue payments to unemployed workers.