OCR Text |
Show 1966, approximately $40.6 million mil-lion dollars will be held in trust for possible payment of unemployment benefits, he said. The calendar year 1967 should see a continuation of income in-come exceeding payments by about the same amount assuming assum-ing no drastic changes in the national economy. Utah employer em-ployer contribution rates (payroll (pay-roll tax) will not go up in 1967. Mr. Harding said that since 1965 under federal unemployment unemploy-ment insurance program there was a 29 decrease in unemployment unem-ployment benefits paid to ex-federal ex-federal employees with the 1966 total estimated to be about $500,000. Unemployment benefits paid to former armed forces, members decreased from $500,000 in 1965 to approximately approxi-mately $270,000 in 1966. He explained that these federal fed-eral programs are administered by the Utah Department of Employment Security for the federal government on a reimbursable re-imbursable basis. Utah payment on unemployment decrease in '66 Utah payments of $8.9 million mil-lion dollars to eligible unemployed unem-ployed workers from private industry in-dustry during 1966 will be some $3.5 million dollars, or 28 less than last year's $12.4 million, according to Curtis P. Harding, Administrator of the Utah Department of Employment Employ-ment Security. Mr. Harding said this is a reflection of the high level of economic activity in Utah during dur-ing this past year. Further indication of economic econ-omic health is the fact that the $10.7 million collected from Utah employers during 1966 will be somewhat higher than 1965 because of higher payrolls. Our reserve fund for paying unemployment insurance benefits bene-fits will be bolstered by the excess ex-cess of collections over payments. pay-ments. This plus higher reserve fund interest earnings will produce pro-duce income to the fund for the calendar year of over $12 million mil-lion dollars, or $3.1 million dollars dol-lars more than benefit outlays. At the end of calendar year |