Michigan unemployment benefits to increase as much as $84 a week for new claims
Michigan workers who file unemployment claims starting April 2 will see noticeably higher benefit amounts and a longer claim period as compared to recent limits, based on a new law that is taking effect.
This effort marks the first increase in the weekly maximum benefits in over 20 years, according to
Friday's announcement
from the Michigan Department of Labor and Economic Opportunity. The new law also extends the number of weeks someone is eligible to request benefits on a claim from the current maximum 20 weeks to a maximum 26 weeks.
"The increases in benefits and weeks will put extra money into the pockets of thousands of Michiganders at a time when they need it the most," Jason Palmer, director of the Michigan Unemployment Insurance Agency said, citing a spinoff impact to local businesses as unemployed workers spend the benefit funds.
Gov. Gretchen Whitmer signed the bill into law in December, but the Michigan legislature did not permit immediate implementation. As a result, the earliest date the changes could take effect is April 2.
Each person's weekly benefit is calculated based on eligibility at the date of filing.
The increase pushes the maximum weekly benefit up by $84 a week from the existing $362 a week to $446 a week for the remainder of 2025. The maximum weekly benefit will then go to $530 in 2026 and $614 in 2027.
In addition, the amount for each dependent claimed in an unemployment benefits case will go from the current $6 a week to $12.66 for the remainder of 2025. The dependent benefit will be $19.33 each in 2026 and $26 each in 2027. Those receiving unemployment benefits can claim up to five dependents when they file a claim.
Those amounts do include taxes, as recipients can choose whether to take taxes out at the time of unemployment checks are issued or settle at tax time.
Further adjustments starting in 2028 will be automatic, based on the national Consumer Price Index.
That being said, there are some special rules that apply to anyone who started a Michigan unemployment claim between Jan. 1 and April 2.
The state labor department explained that the Unemployment Insurance Agency will review active claims that were filed between Jan. 1 and April 2, and make retroactive determinations to see who would otherwise have been eligible for more money during that time. If someone is eligible for a retroactive increase, the Unemployment Insurance Agency will pay out that difference.
There will be no retroactive change to the number of benefit weeks that someone can file for. The new 26-week range only applies to new claims filed April 2 or later.
Those who are receiving unemployment benefits or applying for the first time should check their Michigan Web Account Manager (MiWAM) account regularly for updates and to make sure their address and bank account information is current.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
7 hours ago
- Yahoo
Americans haven't cooked this much at home since 2020: Campbell's CEO
(NewsNation) — More Americans are cooking at home and turning to ingredients that stretch their food budgets, a potential warning sign for the U.S. economy. American soup and snack maker Campbell's recently saw the highest level of meals cooked at home since early 2020, CEO Mick Beekhuizen said on an earnings call this week. 'We started to see consumer sentiment softening in January,' Beekhuizen said. 'This continued throughout Q3, with consumers making more deliberate choices with their spending on food.' And it's not just where they're eating; it's what they're eating. Major brands flag consumer anxiety: McDonald's, Chipotle, P&G Shoppers are being more intentional with their snack spending and gravitating toward grocery items like condensed cooking soups, broths and Italian sauces, ingredients that help 'stretch tight food budgets,' Beekhuizen said. Campbell's noted sales of its broths rose 15% during the quarter while snack sales, including Goldfish crackers and Cape Cod potato chips, declined over the same period. Other iconic American brands are also seeing changes in consumer habits, suggesting households are growing more cautious with their spending. Dollar General posts record sales as bargain stores attract more people anxious about the economy The snacking slowdown has hit PepsiCo and General Mills, and Procter & Gamble has noticed consumers cutting back on laundry to conserve detergent. Meanwhile, McDonald's recently experienced its worst U.S. sales decline in five years, with traffic falling particularly among low and middle-income diners. All of this comes amid heightened economic uncertainty, with President Trump's tariff policy unsettling both Wall Street and Main Street. The lingering sense of unease recently sent consumer sentiment plunging to its lowest level in three years, nearing a record low. Recession odds are also up since the start of the year. Americans have been particularly concerned about the potential resurgence of rampant inflation, as retail giants like Walmart warn that tariffs will drive prices higher for a range of goods, from bananas to car seats. So far, economists' worst fears haven't come to pass, though the full effect of the president's trade war may still be months away. It's possible the shift toward at-home dining could prove benign, driven more by the rising cost of eating out rather than drastic belt-tightening. Grocery prices were up 2% in April compared to the year prior, according to the latest Consumer Price Index. Meanwhile, the cost of eating out increased by 3.9% over the same period, outpacing overall inflation. Still, prominent household brands are likely to be the first to spot trouble brewing, given that consumer spending makes up about two-thirds of the U.S. economy. Another trend that shows Americans are feeling: Sales are up at bargain stores like Dollar General, with even higher-income shoppers stopping by. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
9 hours ago
- Yahoo
2 Inflation-Protection ETFs Climb to Yearly Highs: Here's Why
On Jun 3, 2025, the Organization for Economic Co-operation and Development (OECD) (an international organization of 38 member countries that focuses on promoting economic growth) downgraded its growth forecasts for both the U.S. and global economy. Per OECD, U.S. economic growth is likely to experience major slowdown this year, with GDP dramatically slowing due to the impact of new tariffs and uncertainty. GDP growth is forecast to slide to 1.6% in 2025 and 1.5% next year, a sharp reduction from the 2.8% growth recorded last year. According to the group, the Trump administration's policies — imposing new import duties on nearly every foreign nation — have driven the effective tariff rate up to 15.4% from just 2% last year, the highest level since 1938. Since tariffs are paid by U.S. importers such as Walmart, the added costs are normally passed on to consumers through higher prices — leading the OECD to project that U.S. inflation will 'spike in mid-2025' and climb to 3.9% by year's Consumer Price Index rose by 2.3% in April, without the impact of tariffs. The OECD's inflation outlook shows a stark contrast between the United States and several other major economies around the world. For instance, while G20 countries are now expected to record 3.6% inflation in 2025 — down from 3.8% in March's estimate — the projection for the United States has risen to 3.2%, up from a previous 2.8%. Overall, the report noted that the U.S. economy faces downside risks, including a sharper-than-expected slowdown in economic activity due to policy uncertainty, stronger inflationary pressures from rising tariffs, and the likelihood of significant corrections in financial markets. Against this backdrop, we highlight two exchange-traded funds (ETFs) that recently hit a 52-week high and offer protection against inflation. VanEck Real Assets ETF RAAX VanEck Real Assets ETF seeks long-term total return. The fund primarily allocates to exchange-traded products that provide exposure to real assets including resource assets: commodities, natural resource equities; income assets: REITs, Infrastructure, MLPs; and gold, which includes gold mining equities. Resource Assets take 44.90% of the fund, followed by income assets (28.14%) and gold and gold equities (26.35%). The fund charges 75 bps in fees and yields 1.74% annually. Astoria Real Assets ETF PPI The Astoria Real Assets ETF is an actively managed, broadly diversified ETF that seeks long-term capital appreciation in inflation-adjusted terms. The ETF invests 69% assets in the United States, followed by the U.K. (12%), and Japan (7%). Oil and Gas (20.8%), Investment Trust (12.5%), Banks (8.9%) and Aerospace & Defense (7.8%) take the top four spots in the fund. The fund charges 78 bps in fees and yields 1.35% the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report This article originally published on Zacks Investment Research ( Zacks Investment Research
New York Post
15 hours ago
- New York Post
Trump hiring freeze hurting quality of inflation data collection: report
Federal government staffing shortages from Trump administration hiring freezes have forced the Labor Department's economic statistics arm to curtail the breadth of its data collection for one of the main measures of US inflation, the Wall Street Journal reported Wednesday. The paper said the Bureau of Labor Statistics beginning in April reduced the number of businesses at which it checks prices for the benchmark Consumer Price Index report, citing the hiring freeze that President Trump imposed on his first day back in office, Jan. 20. 'The CPI temporarily reduced the number of outlets and quotes it attempted to collect due to a staffing shortage in certain CPI cities,' beginning in April, a BLS email to private economists and shared with the Journal read. 'These procedures will be kept in place until the hiring freeze is lifted, and additional staff can be hired and trained.' Advertisement CPI is among the most closely watched economic datasets published by the US government, relied upon by economists, investors and policymakers for near-real-time estimates of the state of inflation. REUTERS The Labor Department and BLS did not immediately respond to requests for comment from Reuters. CPI is among the most closely watched economic datasets published by the US government, relied upon by economists, investors and policymakers for near-real-time estimates of the state of inflation. Advertisement The Bureau of Labor Statistics beginning in April reduced the number of businesses at which it checks prices for the benchmark Consumer Price Index report, citing the hiring freeze that President Trump imposed. AP It provides a monthly snapshot of changes both to prices overall and among hundreds of separate products and services ranging from eggs to eyeglasses and airline tickets to automobiles.
