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DEW director says agency paid off federal UI loan, now holds $590M reserve
Summary
Director Cheryl Stanton told a Senate joint committee that DEW paid off its federal unemployment-insurance loan and, as of April 30, had a trust fund balance of more than $590 million; she highlighted workforce placements and a clean DOL audit of the veterans program.
Cheryl Stanton, director of the South Carolina Department of Employment and Workforce, told the Senate joint review committee that, since she took over, the agency has paid off its federal unemployment-insurance loan and built a trust fund reserve of over $590,000,000 as of April 30.
"We have not only paid off that debt but we are now at a point where we have a reserve as of April 30 of over $590,000,000 in the trust fund balance," Stanton said in her opening remarks. She credited reduced overpayments and process improvements for faster, more accurate payment decisions.
Stanton also summarized workforce outcomes: she said DEW has put nearly 400,000 people to work in a recent three-year span and described programs including Wagner-Peyser, veterans services and RESEA. She cited Operation Palmetto Employment and said the agency ran 29 veterans job fairs in one year, with some events giving veterans priority access to employers.
The committee pressed Stanton on details and verification of results; she said the Department of Labor conducted an audit of the veterans program and "had no findings, no observations," calling South Carolina's veterans work a national example. The director said most federal performance measures are now being met and that the agency is moving from crisis-management to strategic workforce alignment.
Looking ahead, Stanton asked the committee to support continued coordination with state education and economic-development partners as DEW implements sector strategies and apprenticeship initiatives that she said will better align training with employer demand.
