Indiana unemployment rate jumps again

from the JLT for Governor campaign

Long Thompson worries about Unemployment Insurance Trust Fund

ARGOS, Ind. - As Indiana's economy continues to struggle, today Hoosiers received more unwelcomed news as the United States Bureau of Labor Statistics reported that the state lost 16,200 more jobs in March. The report, which was released earlier today, found that Indiana's seasonally adjusted unemployment rate jumped from 4.6 percent in February to 5.1 percent in March. The half point increase ties Indiana with California and New Mexico with the second highest month-over-month increase nationally, behind Louisiana.

"Under this Governor, Indiana continues to hemorrhage jobs," said Democratic gubernatorial candidate Jill Long Thompson. "In just the past few weeks we have seen major layoffs and closings throughout the state, and unfortunately there is no end in sight."

"What makes matters even worse is because of Mitch Daniels' policies, the Unemployment Insurance Trust Fund is being depleted," added Long Thompson. "Estimates now put the fund at or below $100 million - and as the unemployment rate grows this problem will become even worse."

In a news conference in January, Long Thompson first called attention to the solvency of Indiana's Unemployment Insurance Trust Fund. The fund had a balance of more than a billion dollars when Daniels took office.

"Along with Indiana's high rates of bankruptcies and home foreclosures, this just illustrates why we need an entirely new approach to economic growth," added Long Thompson. "As Governor, I'll stand up for working families and by overhauling the entire tax structure, reforming our health care system, improving our schools and actively engaging all of our communities I'll ensure our economy's long term stability and vitality."