CCC.THISJUSTIN

United States: The official U.S. jobless rate slid to an 18-year low of 3.8% in May.

Kentucky:  A new Kentucky law diverts portion of employer SUI taxes for computer upgrade.  Kentucky house bills 252 and 487  will, effective 3rd quarter 2018, divert 0.075% of employers’ state unemployment insurance (SUI) to a new service capacity upgrade fund (SCUF) if the state SUI trust fund as of then exceeds the trust fund balance as December 31, 2017. 

According to the Kentucky Office of Employment & Training website, beginning third quarter 2018, 0.075% of all employers’ SUI tax rates will be diverted to the new fund. Employers will not receive credit for the 0.075% diversion to their reserve accounts and, while in effect, the SCUF contribution will not be used in the computation of future SUI tax rates.

The agency estimates that the SCUF will be in effect for the next five years or until the fund reaches $60 million. 

Michigan: Michigan’s unemployment rate fell to 4.6% in May, its lowest level since the same percentage was recorded last August.

Wisconsin: Wisconsin’s unemployment-benefits fund’s surplus rose to $1.65 billion in May, nearly reversing the $1.68 billion trip into the red the fund took during the Great Recession. The fund’s large surplus means employers will most likely continuing paying unemployment taxes at the lowered rates that they’ve enjoyed in recent years. Those tax rates rise and fall according to how much money is in the state’s employment fund, going up when cash is running short in order to replenish what has been lost. With the return of the fund’s surplus in the years following the latest recession, those tax rates have fallen three times since 2016. State officials estimate those reductions have save employers $165 million in total. Officials noted in a press release Wednesday that the state’s unemployment rate is at a historic low of 2.8% and unemployment claims are as infrequent as they’ve been in more than 30 years.

 

 

If you have questions regarding any of the workforce solutions CCC provides please contact us at 800.207.6926 or contact@corporatecostcontrol.com..

 

 

 


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

Featured Videos

View All Videos

Latest News

Close

Sales

Your Name:*

Title:

Company Name:*

Company Address:

Company City:

Company State:

Company Zip:

Number of Employees:

Your Email:*

Phone Number:*

Fax Number:

Check the boxes below if you wish to receive information on any of the following:

Unemployment Cost ControlTax Credits & Incentives (WOTC)Employment / Wage Verification

Your Message:

Employment & Income Verfication

Your Name:*

Title:

Company Name:*

Company Address:

Company City:

Company State:

Company Zip:

Number of Employees:

Your Email:*

Phone Number:*

Fax Number:

Your Message: