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.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Mission’s 7-Eleven defaced with racist graffiti

Racist insults attacking Indo-Canadians ‘shocked’ manager

Mission Memorial Hospital’s COVID-19 outbreak declared over after 48 days

Fraser Health remains the most infectious region of any B.C. health authority with 1989 cases

UPDATE: Slower growth for Sts’ailes FSR Fire, remains out of control

Fire now burns 12 hectares, grew by 2 hectares overnight

Person in serious condition after potential drowning in Abbotsford

Individual airlifted after incident at a home on Tuesday afternoon

Gangster Jarrod Bacon released from prison for third time

Parole board continues to express concerns about Bacon’s behaviour

Airlines dispute Dr. Henry’s claim they ‘very rarely’ give accurate COVID contact tracing info

Air Canada, WestJet say they provide names and contact information

Airborne hot dog strikes Greater Victoria pedestrian

Police called to 4200-block of Quadra Street for hot dog incident

B.C. scientist, 63, protests in trees set to be removed for Trans Mountain pipeline

Tim Takaro is reaching new heights as he tries to stall the pipeline expansion project in New Westminster

Dwindling B.C. bamboo supply leaves Calgary Zoo biologists worried about pandas

Zoo has been trying to send pandas back to China since May

Dinosaurs revived for animatronic auction in Langley

More than 500 robot dinosaurs, fossils, and exhibition gear are going on the block Aug. 6

B.C. paramedics responded to a record-breaking 2,700 overdose calls in July

Province pledges $10.5 million for expansion of overdose prevention response

Canada signs deals with Pfizer, Moderna to get doses of COVID-19 vaccines

Earlier in July both Pfizer and Moderna reported positive results from smaller trials

Canucks tame Minnesota Wild 4-3 to even NHL qualifying series

J.T. Miller leads Vancouver with goal and an assist

Most Read