Massachusetts employers should now have received the 2023 UI contribution rates set by the Department of Unemployment Assistance. The rate schedule has dropped from schedule E in 2022 to schedule A for 2023.
While at face value schedule A sounds like it means lower UI taxes, in reality employers are still responsible for an additional COVID assessment to cover the cost of bonding $2.7 billion to repay federal UI loans and to shore-up the UI trust fund. While many states allocated significant sums of federal funding for UI trusts, Massachusetts lawmakers have only provided $600 million to date.
To learn more about 2023 UI contribution rates visit: https://www.mass.gov/service-details/learn-about-ui-contribution-rates