Florida Employers Will See Unemployment Comp Rates Decline

By: Carolyn Johnson

GOOD NEWS…Most employers can expect to see a $30.40 drop per employee in unemployment compensation rates retroactively effective January 1, 2015.  This is a reduction of 64 percent and marks the second year in a row that the state unemployment compensation rates have decreased.

The Florida Chamber of Commerce today learned that the state Department of Revenue will notify employers this month on the new reemployment tax rates for the coming year. While every employer is subject to its own experience-based rate, employers at the minimum rate will see a change from $47.20 per employee last year to $16.80 per employee. That’s a $30.40 decrease per employee for 2015. This decrease in rates further shows that Florida’s unemployment compensation trust fund is healthy, and confirms that Florida is moving in the right direction again through private-sector job creation.

Governor Scott and the Florida Legislature’s focus on private-sector job creation has resulted in more than 715,000 private-sector jobs created since December 2010, putting less of a burden on the overall fund. Florida’s 5.8 percent unemployment rate is down from 11.4 percent in January 2010, and is indicative that Florida families are getting back to work.

 

Get the Facts

Need rate calculation information and fact sheets to understand the factors used to calculate the new rates? Contact Carolyn Johnson at cjohnson@flchamber.com for details, and to learn how the Florida Chamber of Commerce can help your business become more competitive.