An updated unemployment insurance fund forecast released by the Employment Development Department (EDD) estimates that California will have a negative $24.3 billion balance by the end of 2021, an improvement from October’s forecast of negative $48.3 billion. Heading into 2020, California’s UI fund had a surplus of $3.3 billion. In response to the COVID-19 pandemic and the resulting economic shutdown, the fund became temporarily insolvent within months and permanently insolvent by June 3, 2020. The beleaguered unemployment insurance system –…