Michigan Labor and Economic Opportunity issued the following announcement on Sept. 2.
Emergency aid provided by the Michigan Unemployment Insurance Agency to vulnerable workers has boosted the state’s economic outlook, according to data and testimony shared by economists. At the recent Consensus Revenue Estimating Conference, University of Michigan economist Gabriel Ehrlich indicated that UIA’s efforts to pay benefits quickly and nation-leading Work Share program were credited with helping Michigan outpace the nation in consumer spending.
Since March 15, nearly $22B in unemployment benefits have been paid to more than 2.1M workers. As a result of this and other emergency aid, spending by Michigan residents has been three times higher than economists forecasted, helping families make ends meet and buffering the State Budget and State School Aid Fund against the most devastating cuts.
“Our unemployment system was designed to be a safety net for both our workers and economy,” said UIA Director Steve Gray. “As we have throughout the pandemic, the UIA will continue to work, day and night, to provide this emergency financial assistance quickly so that claimants have the resources to provide for their families.”
Original source can be found here.
Source: Michigan Labor and Economic Opportunity
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