2018 Unemployment Cost Facts for Colorado
What do state unemployment tax (SUTA) costs, claims costs and wage base amounts mean to your organization?
These factors could mean less money for your cause.
57% Average SUTA Cost per Employee Increase
Factors used in calculating employer state unemployment rates have increased; therefore increasing the average unemployment tax cost per employee by 57% since 2009 to about $250 by 2017.
Unemployment Claim Stats
$14,898 Total Maximum Benefits
A claimant can collect up to a maximum of $14,898 on a single claim.
15.394% Unemployment Claim Overpayment Rate
Colorado’s fiscal year 2018 unemployment claim overpayment rate was 15.394%, equaling over $74 million.
$12,600 2018 Taxable Wage Base
The unemployment wage base increased from $10,000 in 2011 to $11,000 in 2012, and has continued to increase since; therefore increasing the wages on which employers pay SUTA on.
First Nonprofit Group provides state compliant, individually insured, cost-saving options to satisfy SUTA requirements for nonprofit, governmental and tribal entities. Click here or call (214) 360-2477 to request a free, no-obligation cost savings evaluation. Evaluations include a 2019 rate projection!