The Biz Buzz

Get the most up-to-date news, insights and analysis of Tacoma, Pierce County and South Puget Sound business.

NOTICE: The Biz Buzz has moved.

With the launch of our new website, we've moved The Biz Buzz.
Visit the new section.

Unemployment insurance taxes going up in 2011 – for the second consecutive year

Post by C.R. Roberts / The News Tribune on Dec. 14, 2010 at 11:46 am with No Comments »
December 14, 2010 11:46 am

Most employers in the state will see an increase – 2011 will be the second consecutive year for increases – in unemployment insurance tax rates.

The upticks, said the state Employment Security Department in a recent release, are “due to an economic downturn that has set new records for unemployment benefits paid to jobless workers.”

The tax rates are calculated yearly using a formula established in state law.

“No one likes announcing that tax rates are going up, especially when the economy is still moving very slowly,” said ESD Commissioner Paue Trause. “In recent years, we have worked with the Legislature to improve fairness and equity in the unemployment tax system, and we hope to make additional progress while maintaining a stable benefits fund.”

The average rate for 2011 is the highest since 1988 – this after the lowest rates in 40 years in 2009.

Next year’s rates will range from 1.33 percent to 6 percent, compared to 0.95 percent and 6 percent this year.

2011 average rates and increases among selected industries:

• Health care and social assistance: 2.46 percent, up 0.43 percent
• Accommodation and food services: 2.51 percent, up 0.46 percent
• Company management: 2.84 percent, up 0.73 percent
• Food manufacturing: 3.6 percent, up 0.84 percent
• Real estate: 3.2 percent, up 1.04 percent
• Construction: 5.41 percent, up 1.53 percent

Leave a comment Comments
*
We welcome comments. Please keep them civil, short and to the point. ALL CAPS, spam, obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. Thanks for taking part and abiding by these simple rules.

JavaScript is required to post comments.

Follow the comments on this post with RSS 2.0