Unemployment Insurance Rates Rising

HELENA, Mont. — The Department of Labor and Industry says most Montana employers will see an increase in unemployment insurance rates for the second straight year.

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The contribution rates in 2011 will average 2.32 percent of wages, compared to 1.92 percent in 2010. The increase averages about $4.26 per employee every two weeks.

Labor Commissioner Keith Kelly says the increases are needed to shore up the Montana Unemployment Trust Fund, which has fallen from $191.2 million in October 2009 to $123.1 million this year. The fund held $290 million in October 2008.

An employer’s contribution rate is based on their history of unemployment claims. The new rate schedules will be sent out next week.