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

Vancouver Island pharmacist suspended for giving drugs with human placenta

RCMP had samples of the seized substances tested by Health Canada

Expect traffic delays at Burnside and Douglas this week for new bus lanes

Prep work runs Tuesday through Thursday while paving takes place Friday

Victoria police searching for missing 18-year-old

Austin Bennett-Frechette is known to frequent the Greater Victoria Public Library

Victoria Cool Aid Society looks to beautify city with art

New mural to be unveiled Tuesday meant to inspire hope

Small homeless camp removed at Horth Hill Regional Park in North Saanich

CRD staff say the camp is not connected to Camp Namegans in Goldstream

UrbaCity raises record-breaking $70,000 for Island Prostate Centre

240 racers, corporate sponsors fill the coffers for the cause

Vancouver Island designated as foreign trade zone

Designation simplifies importing and exporting and provides duty relief

Edmonton cannabis company revenues more than triples to $19.1 million

Aurora Cannabis revenues more than triple in fourth quarter

Seattle one step closer to NHL after arena plan approved

Seattle City Council unanimously approved plans for a privately funded $700 million renovation of KeyArena

Harvest Moon to light up B.C. skies with an ‘autumn hue’

It’s the first moon after the autumn equinox

Hockey league gets $1.4M for assistance program after Humboldt Broncos crash

Program will help players, families, coaches and volunteers after the shock of the deadly crash

Canada has removed six out of 900 asylum seekers already facing U.S. deportation

Ottawa had said the ‘overwhelming majority’ had been removed

Most Read