State Announces Reduction in Unemployment Taxes for 2014
Posted on Dec 19, 2013 in News
Improved Rates Projected to Save Employers $300 per Employee
HONOLULU — The Hawaii State Department of Labor and Industrial Relations (DLIR) today announced that Unemployment Insurance tax rates for 2014 will be reduced 35 percent on average, resulting in employers paying $130 million less in taxes, or $300 less per employee on average for 2014.
The unemployment rate has dropped to 4.4 percent from 6.8 percent in December 2010, which has helped contribute to the replenishment of the Unemployment Compensation Trust Fund. As of October 2013, Hawaii had the fourth lowest unemployment rate among states.