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December 5, 2012
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Nevada hikes unemployment insurance rate

In a hearing lasting just five minutes, the head of Nevada's Employment Security Division made it official Tuesday, raising the tax businesses must pay for unemployment insurance by a quarter percent.

The new rate of 2.25 percent will generate an estimated $499.6 million in 2013 - about $57 million more than the existing 2 percent rate brought in.

The division expects to pay out some $430 million in benefits.

If those projections hold, the near $70 million difference would be used to reduce the $676 million the state owes the federal government for loans taken to pay unemployment claims during …

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The Nevada Appeal Updated Dec 5, 2012 05:08AM Published Dec 5, 2012 05:08AM Copyright 2012 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.