South Central Indiana USA
Prime Area for Industry and Business Growth
Unemployment Data – 2003 Unemployment Tax Comparisons
|
Rates
|
Indiana
|
Illinois
|
Michigan
|
Ohio
|
Kentucky
|
 |
|||||
|
New Employer Rate
|
2.7%
|
3.1%+
|
2.7%
|
2.7%+
|
2.7%
|
|
Wage Base
|
$7,000
|
$9,000
|
$9,500
|
$9,000
|
$8,000
|
|
New Employer
Cost / Employee |
$189
|
$279
|
$256.50
|
$243
|
$216
|
|
Average Tax Rate
(2003) |
1.2%
|
2.2%
|
2.7%
|
1.5%
|
2.0%
|
|
Average Tax
(per Employee) |
$84
|
$198
|
$256.50
|
$135
|
$160
|
|
Min. Tax Rate
(2003) |
0.01%
|
0.60%
|
0.06%
|
0.1%
|
0.0%
|
|
$/Employee
|
$7.00
|
$54
|
$5.70
|
$9.00
|
$0.00
|
|
Maximum Tax Rate
(2003) |
5.40%
|
7.20%
|
9.3%
|
6.5%
|
9.0%
|
|
$/Employee
|
$378
|
$648
|
$883.50
|
$585
|
$720
|
|
Maximum Benefit
|
$324
|
$331-$438
|
$362
|
$315-$424
|
$341
|
|
Average Benefit
(3rd Quarter, 2002) |
$249.54
|
$272.17
|
$288.28
|
$246.14
|
$248.89
|
|
Average Duration
(2002) in weeks |
13.9
|
18.4
|
14.1
|
15.8
|
15.3
|
|
Average Payout
(Claim) |
$3,468.61
|
$5,000.93
|
$4,064.75
|
$3,889.01
|
$3,808.02
|
|
*Trust Fund as % of
Total Wages / Rank |
1.66/23
|
0.43/48
|
1.80/20
|
1.23/35
|
1.32/31
|
|
*High Cost Multiple /
Rank |
0.93/13
|
0.32/50
|
0.48/36
|
0.40/42
|
0.48/37
|
* Trust Fund as a % of Total Wages and High Cost Multiple are measures of solvency – Rank of 1 is best and 53 is worst (D.C., Puerto Rico, and Virgin Islands are included in master data).
Source: Indiana Manufacturers Association, 08/03
