February 20, 2009
COLUMBIA, S.C. (AP) -- South Carolina won't have to borrow as much as expected to pay unemployment benefits this month.
Gov. Mark Sanford's spokesman Joel Sawyer says the governor Friday will approve $5 million of federal loans to cover unemployment checks through the end of February.
The Employment Security Commission had expected to borrow $52 million for February claims.
South Carolina ranked third in the nation in unemployment in December at 9.5 percent. That has forced the agency to borrow as its trust fund runs out of money. South Carolina had to borrow $140 million in December and told Sanford $169 million was needed to cover claims from January to March as weekly payouts topped $20 million.
(Copyright 2009 by The Associated Press. All Rights Reserved.)