The unemployment insurance program is unprepared for a recession, experts say
Renewed fears of a U.S. recession have put a spotlight on unemployment.
However, the system that workers rely on to collect unemployment benefits is at risk of buckling — as it did during the Covid-19 pandemic — if there’s another economic downturn, experts say.
“It absolutely isn’t” ready for the next recession, said Michele Evermore, senior fellow at The Century Foundation, a progressive think tank, and a former deputy director for policy in the U.S. Labor Department’s Office of Unemployment Insurance Modernization.
“If anything, we’re kind of in worse shape right now,” she said.