New law will save businesses $107M in unemployment insurance
A law enacted today postpones a scheduled unemployment insurance rate hike and will save business owners across the state about $107 million.
Businesses now have a yearlong reprieve from an automatic rate hike that would have gone into effect in March. The new law is retroactive to Jan. 1 and maintains the current rate through the end of the year.
The measure benefits both businesses and employees, said Gov. Neil Abercrombie.
