Wednesday, July 6, 2011

Unemployment Insurance Waste and Fraud

Unemployment Insurance Waste and Fraud: "State and federal regulators are cracking down on waste and fraud in the unemployment insurance system, abuses that have hit record levels as jobless claims surge in a weak economy, says USA Today.

In the 12 months through March, the overpayment rate was 11.6 percent -- more than $1 for every $9 paid out, Labor Department figures show.
That's up from the 12 months ending in June 2010, when a record $16.5 billion, or 10.6 percent of the $156 billion in jobless benefits disbursed to Americans, should not have been paid.
The overpayment rate was 9.6 percent in fiscal 2009 and 9.2 percent in 2008."

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