Feds Deliver Unemployment Funds to Maryland

Feds Deliver Unemployment Funds to Maryland

Maryland just became the first state to be entitled to receive $126,750,124 from the United States Department of Labor for unemployment insurance modernization incentive funds.  Maryland was the first state to amend the law to become entitled to these funds.  The state can use the money for benefits, to administer the program, or add employment services to the unemployed.

The federal program gave an incentive to states to assist part-time workers, people just entering the workforce, and those seeking to upgrade skills.  Rather than simply providing job lists and benefits, for example, the funds will help people adjust to changing economies.  Though Baltimore has been classified as part of the rust belt for some time, other types of jobs are going overseas, and Marylanders with certain skills find that their old skills are not wanted on this continent any longer.  New training programs will help people figure out what skills are still in demand, and how to get them.

In the short term, of course, the money is a boon to a nearly bankrupt fund.  As employers know, the rate of unemployment contributions has grown enormously, and this grant from the federal government may at least stop future increases in the tax rate.

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