NH Borrows $50 Million From Feds To Pay Jobless Claims

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New Hampshire is borrowing $50 million from the federal government to pay state jobless benefits through mid-May.

Employment Security Commissioner Tara Reardon said the state knew it would need to borrow the money but thought it would be at the end of last year. She said the good news is that the loan is interest-free and the state expects to pay it off in May.

Reardon said 35,000 people in New Hampshire are receiving unemployment benefits. She said 25,000 are paid by the state and the rest are paid though the federal program providing extended benefits.

Reardon said a total of 52,000 people are unemployed. Some don’t qualify for benefits while some have exhausted the help.

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