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Unemployment insurance is funded by both federal and state payroll taxes. In most states, employers pay state and federal unemployment taxes if: (1) they paid wages to employees totaling $1,500 or more in any quarter of a calendar year, or (2) they had at least one employee during any day of a week for 20 or more weeks in a calendar year, regardless of whether those weeks were consecutive.
Here's a look at how weekly unemployment claims changed in Indiana last week compared with the week prior.
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During fiscal year 2009, retirement survivor benefits of some $10.5 billion were paid to about 589,000 beneficiaries, while net unemployment-sickness benefits of $160 million, including over $10 million in temporary extended unemployment benefits under the American Recovery and Reinvestment Act of 2009, were paid to more than 40,000 claimants.
Until June 30, 2011, the Federal Unemployment Tax Act imposed a tax of 6.2%, which was composed of a permanent rate of 6.0% and a temporary rate of 0.2%, which was passed by Congress in 1976. The temporary rate was extended many times, but it expired on June 30, 2011.