Most unemployment insurance rates flat or falling
The Illinois Department for Employment Security says the tax rates for unemployment insurance will be flat or fall for most employers in 2015.
The department announced Monday the improving economy is a prime factor in the reduction for Illinois businesses. The department also credits programs aimed at curbing unemployment fraud.
About 167,000 businesses will see their unemployment insurance rates fall next year. That's almost half of all employers that pay the tax.
The department says employers' taxes are based on a formula that includes how long the business has been operating and the size of its workforce.
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