Oregon's Unemployment Insurance Trust Fund Balance Decline Over 4 Years Is Projected at 85%/$4.3 Billion.

I obtained the 2021-2023 Oregon Employment Department agency request budget (It's a large (60MB) file) through a public record request, and it's posted HERE). 

The request projects a significant decline in the unemployment insurance trust fund balance over a four year period. [See page 43 of 965 for trust fund balance projections].

The graph and table shows a decline from $5.073 Billion as of March 31, 2020 to a projected balance of $738 million as of March 31, 2024. That's a decline of $4.3 Billion/85% in 4 years, an average decline of $1 Billion+ per year. NOTE: Projections could change by the time of Governor's Budget request submission in January 2021).

The trust fund balance has now slipped below $4 Billion for the first time since the first quarter of 2018, and was at $3.847 Billion as of November 27th.

In subsequent posts I will look at unemployment taxes, rates and collections.

Courtesy, Oregon Housing Blog.