Colorado extends unemployment benefits thanks to federal funding

COLORADO SPRINGS, Colo. (KRDO) - The State announced this week that benefits will be extended even further to Coloradans who are about to exhaust their unemployment benefits.

The state of Colorado provides 26 weeks of unemployment benefits to those who are eligible. The CARES Act then extended those benefits for an additional 13 weeks.

The extension of benefits is 100% federally-funded through the Pandemic Emergency Unemployment Compensations program.

Claimants will not need to any action to access the extended benefits.

The division of unemployment insurance will review claims to determine eligibility. The weekly benefit amount will remain unchanged.

The Colorado Department of Labor and Employment announced on Thursday that the State's unemployment trust fund will run out of money next week.

The state will then borrow money from a federal unemployment fund to ensure there will be no interruption in payments.