DWD forecasts lower unemployment tax for employers next year

Employers would have a lower tax in 2016 to pay the unemployment insurance trust fund because of a projected balance of more than $300 million when the fiscal year ends June 30, the state labor department announced.

Since 2009, employers have been at the highest tax schedule under the unemployment insurance law as the trust fund weathered a significant draw due to the recession.

If current projections hold, the lower tax schedule would kick in for calendar year 2016 and save employers $97 million annually, DWD said.

See the DWD release