New brief: Unemployment Insurance Taxes Will Be a Headwind for the State Economy

11:17 am
January 14, 2021

Unemployment insurance tax rates are adjusted annually and will be much higher this year due to the COVID-19 pandemic. The amount of unemployment insurance tax paid by Washington businesses is expected to increase dramatically, from $1.12 billion in 2020 to $2.11 billion in 2021 and then to $2.99 billion in 2022. This rising UI tax burden will be a significant headwind to the recovery of the state economy.

Read the report here.

Categories: Economy , Employment Policy , Publications , Tax Policy.
Tags: unemployment insurance