Jobless Rate Also Hurts Employers: ; As Unemployed Ranks Rise, Unemployment Taxes Make It Harder to Hire

Summary

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WASHINGTON - As if small businesses needed another reason not to hire, consider their latest financial burden: The cost of rising unemployment itself.

Employers already are squeezed by tight credit, rising health care costs, wary consumers and a higher minimum wage. Now, the surging jobless rate is imposing another cost. It's forcing higher state taxes on companies to pay for unemployment insurance claims.

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Extract

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Jobless Rate Also Hurts Employers: ; As Unemployed Ranks Rise, Unemployment Taxes Make It Harder to Hire

Some employers say the extra costs make them less likely to hire. That could be a worrisome sign for the economic recovery, because small businesses create about 60 percent of new jobs. Other employers ...

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