Title: Almost 200K Michigan jobs could be lost if unemployment benefits expire ⋆ Michigan Advance
Headings: Almost 200K Michigan jobs could be lost if unemployment benefits expire
Almost 200K Michigan jobs could be lost if unemployment benefits expire
State unemployment rate falls slightly to 21.2% in May
Michigan won’t bounce back from COVID-19 recession until after 2022
State to clear unemployment backlog by July 4

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That extra $600 per week boosted incomes across the nation by $842 billion in May, according to the Bureau of Economic Analysis (BEA). Extending the weekly $600 unemployment insurance benefits to mid-2021 would add 5.1 million workers and increase the national gross domestic product (GDP) by 3.7%, according to EPI, which conducted individual analyses on incomes, GDP and employment on all 50 states. The CARES Act, an extensive piece of COVID-19 relief passed by Congress in March, notably expanded the federal unemployment insurance program and its benefits. Not all states had that capability to do that with their own programs. Michigan’s jobless rate last stood at 21.2% in May, according to the Department of Management, Technology and Budget (DTMB). About 11% of the workforce collects regular unemployment benefits through the state. But Michigan also has the fourth-most Pandemic Unemployment Assistance (PUA) claims of any state or number of claimants, according to Wolfe. “We have 1.1 million people claiming just this specific type of unemployment insurance alone, which is not necessarily a bad reflection on Michigan,” Wolfe said. “ In fact, it’s just a reflection that they are responding to this crisis by expanding the benefits to people who really need it.”