Employment Insurance premiums will be lower than anticipated in 2019

Commission says the rate will be $1.62 per $100 of insurable earnings across Canada

The Canada Employment Insurance Commission says employment insurance premiums will be lower than expected in 2019.

The commission says the rate will be $1.62 per $100 of insurable earnings, which is four cents lower than anticipated.

Finance Minister Bill Morneau and Jean-Yves Duclos, minister for families, children and social development, say in a joint statement that the EI premium rate has been reduced “thanks to a strong and growing economy.”

The statement says the new rate is almost 14 per cent lower than the rates in 2015 and that it’s the lowest rate since 1980.

Randall Bartlett, chief economist at the Institute of Fiscal Studies and Democracy says the low premium rate is a reflection of the strong Canadian job market.

The change won’t be reflected on people’s paycheques until January.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

North Island Tour De Rock rider Benjamin Leah leads team to Port Hardy

“You don’t have issues and problems when you look at these kids and how much they’re going through.”

Alberni’s McLean Mill Society looking for a new direction

Society held a public input meeting at historic site

VIDEO: Man extracted from vehicle eight hours after accident near Cameron Lake

People making pit stop at picnic area made crash discovery

Person extracted from vehicle accident in Cameron Lake

A person has been extracted today from a reported vehicle accident in… Continue reading

Seeing double, the trials and tribulations of twins

BIG READ: Three Vancouver Island mothers share their experiences with multiple births

Environment Canada confirms Ottawa area hit by two tornadoes Friday

At one point more than 200,000 hydro customers were blacked out

B.C. students send books to displaced students of Hornby Island school fire

Maple Ridge elementary school teacher says students learned about acts of kindness

Trump drains oxygen from Trudeau foreign policy with PM, Freeland bound for UN

A lot has changed since the Liberals came to power in Canada in 2015

B.C. man fined $15,000, barred from trading securities for fraud

Larry Keith Davis used money from an investor to pay personal bills

Emergency crews investigate small sulphuric acid spill in Kootenays

IRM states a small volume of less than one cup and three dime-sized drips were leaked from carrier

Family, friends of B.C murder victim want killer sent back to max security facility

Group wants convicted murderer Walter Ramsay sent back to a maximum security facility

B.C. VIEWS: Looking under the hood of ICBC’s war on crashes

Is our accident rate really soaring, or is it inefficiency?

Most Read