Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Employment Security briefs committee on unemployment trust fund, rates and labor market trends
Summary
Richard Labors of New Hampshire Employment Security summarized how the state's unemployment program is funded, recent trust-fund solvency, current tax rates and labor market indicators including low unemployment and strong job demand.
New Hampshire Employment Security told the House Labor Committee the state's unemployment insurance program is fully employer funded, the trust fund balance is at historically high levels and the taxable-rate structure currently yields low employer tax burdens.
"The unemployment system is a 100% employer funded," Deputy Commissioner Richard Labors told the committee as he summarized the agency's three bureaus: unemployment compensation, reemployment services and labor market information. He said taxes are collected on employers' first $14,000 in annual wages and explained…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
