Business Report: Unemployment benefits, CarePoint Health deal, manufacturing activity

Federal unemployment benefits will now continue through mid-March

New Jersey residents who are unemployed will receive higher benefit payments in 2021. First, the state Department of Labor says there will be no lapse in COVID-19-related federal benefits since the stimulus bill was signed into law at the end of last year. Those federal unemployment benefits will now continue through mid-March. On top of that, state unemployment benefits will increase slightly. As of Jan. 1, the maximum weekly benefit is now $731, up from $713. The state has also increased the maximum weekly benefits for disability, family leave and workers compensation.

A new buyer has emerged for two of CarePoint Health’s Hudson County hospitals. A California-based investment group, KPC Global Management, recently signed a letter of intent to purchase the operations of Hoboken University Medical Center and Christ Hospital in Jersey City. The deal would have to be approved by the New Jersey Health Department. It comes after CarePoint’s negotiations to sell the hospitals to RWJBarnabas Health stalled last spring. In the meantime, other potential buyers are still vying for another CarePoint property, Bayonne Medical Center.

New Jersey’s manufacturing companies had a busy 2020, churning out personal protective equipment and other supplies. The New Jersey Manufacturing Extension Program’s economic impact on the state hit a milestone last year, totaling $1.1 billion. The organization says it helped support 3,400 new and retained manufacturing jobs.