New york, for instance, implemented austerity measures that slashed the duration and amount of jobless benefits.
Such austerity measures contravene research that demonstrates that financial data data recovery is bolstered whenever UI recipiency is high. In Michigan, jobless officials relied in a lot more than $3.8 billion in bond-financed debt to weather the Great Recession. After 12 several years of paying down those bonds through a mix of greater company taxation rates (which hurt companies) and austerity measures and advantage cuts (which hurt employees), Michigan finally paid down its financial obligation.
Weeks later, COVID-19 hit.
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