Across the country, employers have to take into consideration high unemployment rates. This element can impact their companies, as more people out of work can lead to higher taxes, but it can also have an effect on hiring practices for many businesses.

Thankfully, data from the U.S. Bureau of Labor Statistics indicated that the national unemployment rate has been holding steady on a month-over-month level, most recently at 6.2 percent in July. However, it is actually 1.1 percent lower than the rate reported in July 2013. On a monthly basis, 38 states noted increases in their rates, while 49 had decreases from July of last year to this year.

On a state-by-state basis, the highest jobless rate belonged to Mississippi at 8 percent. The lowest was North Dakota at 2.8 percent. As an added bonus, 18 states had lower rates than the national average, while 24 had rates incredibly similar.

Unemployment claims tick down across country
As jobless rates continue to trend down, there is more good news for employers. According to the U.S. Department of Labor, initial unemployment claims dropped on a weekly basis for the week ending Aug. 16, down to 298,000 from 312,000 – a decrease of 14,000. The four-week moving average climbed, however, up to 300,750 from 296,000.

In addition, the DOL reported that the seasonally adjusted insured unemployment rate was 1.9 percent for the week ending Aug. 9. That is the same as the previous seven-day period. The seasonally adjusted number of people insured hit its lowest level since 2007, now at 2.5 million for the week ending Aug. 9. That is down 49,000 compared to the week prior.

On a state-by-state basis, the highest insured unemployment rates for the beginning of August belonged to New Jersey at 3.3 percent, Alaska at 3.1 percent and Connecticut at 3.1 percent. The biggest surges in claims were found in California – with gains of more than 10,000 – New York, up 1,928, and Massachusetts, up 1,451.

Overall, the employment trends in the U.S. continue to be positive. As the number of people unemployed – and the amount of claims – maintain their downward trajectories, businesses may begin to see lower taxes and fewer expenses.

Juggling tax rates and difficult employees can become challenging at your company. Here at Corporate Cost Control, we understand these problems and are well-positioned to help. Our extensive background in cost control and human resources will allow you to better manage your unemployment insurance expenses.


Contact CCC to see how we can save your organization time and money.
Contact our Sales Team
(800) 207-6926

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