Social Security could be hurt because of the economic slowdown and...

Social Security could be hurt because of the economic slowdown and increase in unemployment since Sept. 11, according to a report released yesterday by the Employee Benefit Research Institute. The latest annual report by the Social Security fund trustees noted that the strong economy up to 2000 and the low unemployment rate helped improve the system’s 75-year actuarial balance from -2.23% of taxable payroll in 1997 to -1.86% in 2001. Moreover, the increasingly negative attitude toward immigration after Sept. 11 also could hurt the system; a significant increase in skilled immigrants in their early to prime working years would have a positive impact on the system’s funding status, reducing the need to increase taxes or cut benefits.