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Loss of federal unemployment aid may cost Ohio more than help it


Loss of federal unemployment aid may cost Ohio more than help it
© Susan Glaser/cleveland.com
Quiet East Fourth Street in downtown Cleveland on a summer Saturday in August 2020.
CLEVELAND, Ohio – Gov. Mike DeWine’s decision to cut off $300-a-week federal unemployment supplements to jobless Ohioans will prevent an estimated $1 billion infusion into the economy this summer.
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How can that be a good thing?
It’s not, if you talk with those who believe the payments should continue, including one expert who says $1 billion could translate to an overall economic impact of more than $1.6 billion. But ending the payments could be a good thing, say others, if forgoing the money does what it’s designed to do – wean the jobless off unemployment and restart sectors of the economy jammed up by a lack of willing workers. ....

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