State Announces 26% Reduction in Unemployment Taxes for 2016

Posted on Dec 23, 2015 in News

DEPARTMENT OF LABOR AND INDUSTRIAL RELATIONS

 DAVID Y. IGE
GOVERNOR

LINDA CHU TAKAYAMA
DIRECTOR

Dec. 23, 2015

STATE ANNOUNCES 26 PERCENT REDUCTION

IN UNEMPLOYMENT TAXES FOR 2016

Improved Rates Projected to Save Employers $50 Million

 HONOLULU — The Hawaii State Department of Labor & Industrial Relations (DLIR) today announced a 26 percent average drop in Unemployment Insurance contribution rates, resulting in employers paying $50 million less in taxes, or $100 less per employee on average for 2016. The annual average per employee has fallen from $910 in 2013 to an estimated $300 in 2016.

“This move comes at a time of continued strength in our state’s economy. It frees up capital that companies can use to improve their businesses, and it’s also a reassuring sign to workers that the reserve has been replenished and will be available to act as a safety net in the event of a future economic downturn,” stated Gov. David Ige.

For the full release, click here.