On Thursday, Pritzker focused on the issue of unemployment claims during his daily briefing. IDES had processed more than 1 million claims for jobless benefits from the start of March to May 2. The first-term Democratic governor also suggested that he inherited some of the problems at the unemployment agency, saying IDES has suffered from a lack of funding and now has 500 fewer employees than it did during the Great Recession a decade ago.
Unemployment bebefits are an insurance program. The employee pays into the insurance with every paycheck and the employer pays into the insurance with every paycheck. The insurance premium is based upon actuarial data based upon business type and historical unemployment data for that industry. Right? We have had a functioning economy for six years and a boom economy for three of those six years. The unemployment insurance pool should be flush with cash. So…….where’s the money Mike Madigan?
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Unemployment bebefits are an insurance program. The employee pays into the insurance with every paycheck and the employer pays into the insurance with every paycheck. The insurance premium is based upon actuarial data based upon business type and historical unemployment data for that industry. Right? We have had a functioning economy for six years and a boom economy for three of those six years. The unemployment insurance pool should be flush with cash. So…….where’s the money Mike Madigan?