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Hawaii Employers to Pay Less UI Taxes in 2016

All throughout this year, the Department of Labor and Industrial Relations (“DLIR”) has announced a steady decline in the unemployment rate for the State of Hawaii.  In fact, in November 2015, the unemployment rate fell as low as 3.2%, which was the fourth lowest unemployment rate in the nation at the time.

decline

Earlier today, the DLIR issued a press release stating that the unemployment tax schedule will be set at Schedule C for 2016, which is one level lower than it was in 2015.  According to the DLIR’s calculations, employers will pay an average of $100 less per employee per year.  (For employers with a sizeable workforce, this could end up being a huge cost saving – e.g. 500 employees x $100 per employee = $50,000 for the year.)

You can review a copy of the DLIR’s press release here:  State Announces 26 Percent Reduction in Unemployment Taxes