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Unemployment Tax Rate Cut By 1 Percent

New Hampshire’s unemployment tax rate will go down by 1 percent in the first quarter of this year, state officials said Tuesday.

The new rate of 3.4 percent is expected to save employers more than $37 million over the next three months.

The lower rate is triggered when the state’s unemployment compensation trust fund maintains a balance of $275 million or more during the previous quarter.

This comes after the rate was lowered in the final quarter of 2014 by point-five percent.

Governor Maggie Hassan says the news is a sign of an improving economy, noting the continued reduction of the state’s unemployment rate, which stands at 4.1 percent.

Michael serves as NHPR's Program Director. Michael came to NHPR in 2012, working as the station's newscast producer/reporter. In 2015, he took on the role of Morning Edition producer. Michael worked for eight years at The Telegraph of Nashua, covering education and working as the metro editor.
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