Washington’s Unemployment Fund Is in Trouble: 37% Tax Hike Coming for Businesses?
Washington state’s unemployment insurance system is facing serious financial pressure, and employers could soon be handed the bill.
The state is projected to pay roughly $2.4 billion in unemployment benefits while collecting only about $1.8 billion in employer taxes, creating a potential $600 million annual gap. At the same time, Washington has expanded unemployment eligibility to striking workers, increased its maximum weekly benefit to $1,208, and is seeing more eligible workers claim benefits for longer periods.
Now, with the Unemployment Insurance Trust Fund projected to fall below the…
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