This week, Ohio Department of Job and Family Services (ODJFS) Director Matt Damschroder testified before the Ohio House that Ohio’s unemployment trust fund could be insolvent in coming years.
Speaking to the House Public Insurance and Pensions Committee, Damschroder told lawmakers that the 1.7 billion dollar unemployment trust would become insolvent by 2032 with no action taken.
Damschroder explained that if the U.S. were to enter a recession, the timetable for insolvency would be expedited. State law sets a minimum safe level for the trust of $4.4 billion in order to endure a recession. 4/30/2025