Thank you for visiting SNEWPapers!
Sign up free
The Nome Nugget
Nome, Nome County, Alaska
What is this article about?
In Juneau, the State Chamber of Commerce, led by Don Dickey, accused the State Employment Security Division's monthly unemployment compensation fund report of being misleading for not listing outstanding loans, revealing an actual deficit of $3,572,000 as of Nov. 30.
Clipping
OCR Quality
Full Text
Monthly Employment
Report Is "Misleading"
JUNEAU ( The State Chamber of Commerce charged Thursday that the State Employment Security Division's monthly report on the status of the unemployment compensation fund balance was misleading.
"The monthly report does not present a true picture of the fund in that it never lists the loans outstanding against the fund," Don Dickey, general manager of the State Chamber, said.
Dickey said the report on the fund balance as of Nov. 30 listed the balance as $6,131,000.
"It is important for Alaskans to recognize that this balance is just the cash balance in the fund and does not give recognition to the large loans outstanding against the fund," Dickey said.
"These loans are the Reed Act loan amounting to $8,765,000 and the 1958 temporary unemployment compensation program which cost Alaskan employers $938,000 and remains unpaid today.
"When recognizing these two loans outstanding against the UC Fund, the fund actually reflects a deficit balance of $3,572,000."
What sub-type of article is it?
What keywords are associated?
What entities or persons were involved?
Where did it happen?
Domestic News Details
Primary Location
Juneau
Event Date
Thursday
Key Persons
Outcome
fund actually reflects a deficit balance of $3,572,000
Event Details
The State Chamber of Commerce charged that the State Employment Security Division's monthly report on the unemployment compensation fund balance was misleading because it does not list outstanding loans. The report showed a balance of $6,131,000 as of Nov. 30, but with the Reed Act loan of $8,765,000 and the 1958 temporary program cost of $938,000 unpaid, the fund has a deficit of $3,572,000.