Ever want to know what the unemployment insurance tax rate is in your state and how that compares to what you pay or what employers pay in other states?  How about average duration of an unemployment claim or the exhaustion rate for claimants collecting unemployment?

The DOL issues a quarterly report that can tell you this and much more about what is happening in the states in which you do business.    It’s sad to say, but I find it an interesting read.  I thought maybe you all would too.  Check it out at http://workforcesecurity.doleta.gov/unemploy/content/data.asp.

While you might not be able to do anything directly to influnce the statistics for your state, being informed can help you plan for the future.  Understanding whether your state has outstanding federal loans or how much revenue (tax collections) they take in can be an early indicator of what to expect to happen with your tax rates in the upcoming year and can help with forecasting.  I'm sure most companies are going through budget season right now and are just loving every minute of it. 

If you have an unemployment cost management service provider I would encourage you to talk to them about forecasting your rates for 2010.  If not, be aware and do your homework.  We provide legilative updates to employers (free of charge - how often do you hear that?).  Click here to sign up.

Tammy Mullin