HONOLULU (AP) – A new law postpones a scheduled unemployment insurance rate hike that would have cost business owners about $550
more for each employee.
more for each employee.
Businesses now have a yearlong reprieve from an automatic rate hike that would have gone into effect in March. The new law is retroactive to January 1 and maintains the current rate through the end of the year.
The measure benefits both businesses and employees, says Gov. Neil Abercrombie, who enacted the law Friday.
Putting the rate increase off for a year will save Hawaii’s business community about $107 million in 2012.
Another section of the law sets unemployment benefits at 75 percent of the average weekly wage, rather than the normal 70 percent. This will also last through the end of the year.
(Copyright 2012 by The Associated Press. All Rights Reserved.)
See the original article at: KHON2 Developing Stories
