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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.
On June 6, 2019, Governor Gretchen Whitmer signed a re-organizational executive order renaming the department to Department of Labor and Economic Opportunity effective August 11. As a part of the department's re-organization, two commissions were formed in the department, the Workers’ Disability Compensation Appeals Commission and the ...
The Federal Unemployment Tax Act (or FUTA, I.R.C. ch. 23) is a United States federal law that imposes a federal employer tax used to help fund state workforce agencies. . Employers report this tax by filing Internal Revenue Service Form 940 an
Productivity has expanded at a 1.8% pace during the current business cycle, which started in the fourth quarter of 2019. That compares to a 1.5% rate of growth during the last business cycle ...
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PARAMARIBO (Reuters) -Suriname's fugitive former President Desi Bouterse has died aged 79, the country's government said on Wednesday, almost a year after he fled authorities to avoid jail ...
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In September 2019, the U.S. unemployment rate dropped to 3.5%, near the lowest rate in 50 years. [20] On May 8, 2020, the Bureau of Labor Statistics reported that 20.5 million nonfarm jobs were lost and the unemployment rate rose to 14.7 percent in April, due to the Coronavirus pandemic in the United States .
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