Monthly Archives

September 2020

Oklahoma Unemployment Tax Rates & Wage Base Set to Increase in 2021

The Oklahoma Employment Security Commission has confirmed that unemployment tax rates and taxable wage limits for calendar year 2021 will increase.

Effective January 1, 2021, Oklahoma’s experienced-employer unemployment tax rates are to be determined with Conditional Factor D, causing rates to range from 0.30% to 7.50%. This is an increase form 2020 where rates ranged from 0.10% to 5.50%. The new employer tax rate will remain steady at 1.50% for 2021.

Additionally, the unemployment taxable wage base is set to increase in 2021 to $24,000; up from $18,700 in 2020.

As always, if there are any questions please do not hesitate to contact us or visit our website at www.thomas-and-company.com.

Unemployment Weekly Claims Report for the Week-Ending September 19, 2020

The Unemployment Insurance Weekly Claims report for the week ending September 19, 2020 has been released by the Department of Labor.

  • Seasonally adjusted initial claims: 870,000
  • 4 week moving average: 878,250
  • Seasonally adjusted insured unemployment rate: 8.6%
  • Seasonally adjusted insured unemployment number: 12,580,000
  • 4-week moving average: 13,040,750
  • Number of unadjusted claims: 824,542
  • Unadjusted insured unemployment rate: 8.4%
  • Unadjusted number claiming UI benefits: 12,264,351

The full news release report can be downloaded here.

Alaska’s New Minimum Wage

The Alaska minimum wage will increase from $10.19 to $10.32 effective January 1, 2021. This minimum wage applies to all hours worked in a pay period, regardless of how the employee is paid (by time, piece, commission, etcetera). All actual hours worked in a pay period, multiplied by the Alaska minimum wage, is the minimum an employee can be compensated by an employer.

Please be aware that tips do not count toward the minimum wage, public school bus driver wages must be no less than twice the current Alaska minimum wage, and that certain exempt employees must be paid on a salary basis of not less than twice the current Alaska minimum wage based on a 40-hour work week in order to maintain their exempt status.

Visit Alaska’s website for more information about Alaska’s wage laws:

http://labor.alaska.gov/lss/whhome.htm.

Montana Unemployment Taxable Wage Base to Rise in 2021

The Montana Department of Labor announced today that the unemployment taxable wage base is set to rise to $35,300 in 2021, up from $34,100 in 2020.

The change to the taxable wage base takes effect Jan. 1, 2021.

The Department’s unemployment tax rates for 2021 are expected to be finalized in December.

As always, if there are any questions please do not hesitate to contact us or visit our website at www.thomas-and-company.com.

Unemployment Weekly Claims Report for the Week-Ending August 22, 2020

The Unemployment Insurance Weekly Claims report for the week ending August 22, 2020 has been released by the Department of Labor.

  • Seasonally adjusted initial claims: 1,006,000
  • 4 week moving average: 1,068,000
  • Seasonally adjusted insured unemployment rate: 9.9%
  • Seasonally adjusted insured unemployment number: 14,535,000
  • 4-week moving average: 15,215,750
  • Number of unadjusted claims: 821,591
  • Unadjusted insured unemployment rate: 9.5%
  • Unadjusted number claiming UI benefits: 13,909,872

The full news release report can be downloaded here.

 

Our office will monitor COVID-19 updates closely and will send out additional announcements as we become aware of any updates. You can also review these updates on our website at https://www.thomas-and-company.com/covid-19/ too.

Please reach out to your representative with any questions.

 

 

Pennsylvania Unemployment Tax Rates Hold Steady for 2021

The Pennsylvania Department of Labor & Industry announced today that unemployment tax rates for 2021 will remain unchanged.

Effective January 1, 2021, total tax rates for experienced employers are to range from 1.2905% to 9.9333% and are to include a 0.75% state adjustment factor, a 5.40% solvency surcharge, and a 0.50% additional contributions tax.

The Interest Rate Factor will not be in effect for 2021.

For 2021, unchanged from 2020, the total tax rate for new non-construction employers is to be 3.689% and the total tax rate for new construction employers is to be 10.2238%. The rates include a 5.40% solvency surcharge.

Employees are to be assessed an unemployment tax rate of 0.06%, unchanged from 2020, with the tax deductible from wages.

Pennsylvania’s unemployment taxable wage base, which is to be $10,000 for 2021, does not apply with regard to unemployment tax assessed on employees.

As always, if there are any questions please do not hesitate to contact us or visit our website at www.thomas-and-company.com.