How does the employees hourly wage come into affect?
The lady I took over for 3 years ago didn’t go over hardly anything with me so I am still struggling with the cost of unemployment per employee per hour.
Take my wage: $14.50 – how much per hour should I cost for JUST unemployment?
She has ONE thing written down for one of the employees when he was first hired to be .054% and came up with $.63 / hour. Am I missing something? I get $.81 – using the wage he went to: .045×15 = $.81 or am I using wrong numbers?
I’m sorry you’re in a position that didn’t provide you training and documentation. Unemployment insurance (UI) varies by state as well as by the “experience” of the employer, meaning an employer who has more unemployment claims will pay more than one who has no claims. There’s no hourly rate I can provide unless I know what state you’re in and what the unemployment rules and rates are in that state as well as your companies unemployment experience. For example, in some states, the business pays the UI, and in others, the employee covers a portion.
Here’s information from the government on Unemployment for employers: https://oui.doleta.gov/unemploy/uifactsheet.asp
Are you trying to calculate the unemployment portion of the employee’s hourly wage as part of payroll processing? If so, you may want to read our article on payroll processing to get a better handle on what it includes. The article includes a state-by-state table so that you can find out the rules for your state.
Or you can check out this article that talks about taxes and unemployment rates as well as work comp that affect your payroll process.
Consider doing an internet search on unemployment rules for your state. That will give you insight into who to contact to obtain the rates for your business. Best of luck to you.