Unemployment tax rates to remain unchanged for 2019

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Iowa Workforce Development officials announced that the unemployment tax rate table will remain unchanged for 2019. Tax rates will be the second-lowest allowed by law, at Table 7 of 8 tables. The unemployment insurance rate table trigger formula is primarily based on the trust fund balance, unemployment benefit payment history and covered wage growth. The formula is designed to enable the trust fund to keep pace with potential liabilities as covered employment and wages grow. IWD Director Beth Townsend praised the vitality of the economy in Iowa that has seen continuous low unemployment rates around the state over the past 12 months.