Alaska's Unemployment Insurance Fund one of few solvent

Alaska’s Unemployment Insurance Trust Fund is one of just a few state unemployment insurance funds that are solvent, with a balance of $257 million. As of November 2, 31 states have borrowed nearly $41 billion from the federal government to fund their unemployment insurance programs. Alaska is one of three states where employees help fund the trust, with employers paying 73% of benefit costs and workers the other 27%. The other two states with employee contributions, New Jersey and Pennsylvania, have borrowed $1.7 billion and $3 billion from the trust fund, respectively. Alaska's fund is the source of 26 regular weeks of unemployment benefits; the Federal government pays for extended benefits beyond 26 weeks. For more information about Alaska's Unemployment Insurance Trust Fund, see the November issue of Alaska Economic Trends, the Alaska Department of Labor's monthly publication.