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.