New Jersey Unemployment Tax Rates Rise for 2021 / 2022

New Jersey has released the new unemployment tax rates effective July 1, 2021. NJ tax rates are determined with schedule C where the minimum tax rate is 0.50% and the maximum tax rate is 5.80%.  The new Employer rate remains at 2.80%. 

Tax rates have increased from last year where the State used schedule B, and rates will continue to rise of the next two years as tables shift to schedule D and E respectively.

The schedule is typically determined by the amount of reserves in the state fund, however the state has decided to gradually increase rates over three years, instead of jumping directly to schedule E.

New Jersey has relieved employers of charges relating to COVID-19, helping employers keep rates lower coming out of the pandemic. 

Contact us today to discuss how to control your unemployment costs as rates continue to rise!