Answered: Describe how an experience-rating…

Describe how an experience-rating system is used in determining employers’ contributions to state unemployment compensation funds

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter2: Computing Wages And Salaries

Section: Chapter Questions

Problem 24QR

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Question

Describe how an experience-rating system is used in determining employers’ contributions to state unemployment compensation funds

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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