Labor and Economic Opportunity - UIA Update: Trust Fund remains healthy, Michigan unlikely to borrow in 2021
Labor and Economic Opportunity UIA Update: Trust Fund remains healthy, Michigan unlikely to borrow in 2021 February 18, 2021 Based on current unemployment claims activity and economic conditions, the Unemployment Insurance Agency today announced that it is highly unlikely the Agency will need to borrow from the federal government to cover unemployment benefits in 2021. Currently, Michigan has one of the healthiest trust funds in the nation, with over $500M available for unemployment benefits and is one of few states that has yet to borrow from the fund. States such as California, Ohio and Tex...