Quantcast

Missouri employers to save $186 million as the state retires UI - KOAM TV 7

Missouri employers to save $186 million as the state retires UI Trust Fund obligation early, Gov. Nixon announces

Updated:

NEWS RELEASE ISSUED BY THE OFFICE OF MISSOURI GOVERNOR JAY NIXON

Missouri employers to save $186 million as the state retires UI Trust Fund obligation early, Gov. Nixon announces

Growing economy and falling unemployment rate make early payment possible

Jefferson City – As a result of continued growth in the state’s economy, Missouri employers will save $186 million in federal taxes as the state retires its obligation to the federal Unemployment Insurance Trust Fund six months ahead of schedule, Gov. Jay Nixon announced today. A revised projection from the U.S. Department of Labor shows that Missouri’s obligation will be retired early, which will lower the federal tax burden on Missouri businesses by $84 per employee.

“This revised projection is yet another clear indication of our strong and growing economy,” Gov. Nixon said. “Today, our unemployment rate is at its lowest point since June 2008 as more Missouri employers continue to create jobs and invest. By holding the line on taxes and investing in true economic drivers like education, we are keeping the cost of doing business low, while keeping our workforce strong.”

The most recent jobs report by the Missouri Department of Economic Development stated that Missouri’s unemployment rate fell by two-tenths of a point in December to 5.9 percent, the lowest unemployment rate since June 2008. In comparison, the U.S. unemployment rate for December was 6.7 percent.

In 2009, Missouri became one of many states that received a loan from the United States Treasury to fund its unemployed insurance program during the national recession.

More information about the Unemployment Insurance Trust Fund can be found here.

# # #

  • NewsMore>>

  • Suppression Systems Help Douse Fire at Joplin Food Company

    Suppression Systems Help Douse Fire at Joplin Food Company

    Friday, August 17 2018 10:40 PM EDT2018-08-18 02:40:57 GMT

    Joplin crews work a fire at a frozen food plant.

    More >>

    Joplin crews work a fire at a frozen food plant.

    More >>
  • MSSU Avoids Million Dollar Fine By Tweaking Its Tuition Increase

    MSSU Avoids Million Dollar Fine By Tweaking Its Tuition Increase

    Friday, August 17 2018 10:25 PM EDT2018-08-18 02:25:49 GMT
    Tuition is still going up at Missouri Southern State University, but it's tweaking the cost increase to credit hours to avoid a state fine. Missouri Southern's Board of Governors approved a 15 percent increase in student tuition last April, upping credit hours by $30. But state education law doesn't allow tuition increases beyond the consumer price index. To avoid a $1.1 million fine, MSSU adjusted down the tuition increase to $20 more per credit. "It was supposed...More >>
    Tuition is still going up at Missouri Southern State University, but it's tweaking the cost increase to credit hours to avoid a state fine. Missouri Southern's Board of Governors approved a 15 percent increase in student tuition last April, upping credit hours by $30. But state education law doesn't allow tuition increases beyond the consumer price index. To avoid a $1.1 million fine, MSSU adjusted down the tuition increase to $20 more per credit. "It was supposed...More >>
  • Joplin Jamboree Highlights

    Joplin Jamboree Highlights

    Friday, August 17 2018 10:25 PM EDT2018-08-18 02:25:26 GMT
    Highlights from Joplin's football jamboree with Lamar, Webb City and Seneca Friday night. More >>
    Highlights from Joplin's football jamboree with Lamar, Webb City and Seneca Friday night. More >>
Powered by Frankly

KOAM - Licensed to Pittsburg, Kansas
Send tips, ideas and press releases to: tips@koamtv.com
Send newsroom questions or comments to: comments@koamtv.com
Phone: (417) 624-0233 or (620) 231-0400
Web comments or questions: webmaster@koamtv.com
Newsroom Fax: (417) 624-3158

Powered by Frankly, Inc. All content © Copyright 2000 - 2018 KOAM. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.