California’s Unemployment Insurance Trust Fund Is Now ‘Structurally Insolvent’ Under Weight of Pandemic Loans

The California state capital building in Sacramento, Calif., on March 11, 2023. John Fredricks/The Epoch Times

California’s Unemployment Insurance (UI) Trust Fund that pays out state benefits is now “structurally insolvent,” according to a recent report.

The Legislative Analyst’s Office noted the debt crisis involving the California Employment Development Department’s (EDD’s) UI trust fund on July 7.