Employment Insurance Premium Rate Change for 2019
The Canada Employment Insurance Commission has announced a decrease in employment insurance premiums for 2019.
Finance Minister Bill Morneau and Social Development Minister Jean-Yves Duclos said issued the following statement on the Employment Insurance (EI) premium rate for 2019:
“Thanks to the hard work of Canadians, job creation has been strong, and unemployment is near 40-year lows. While more and more Canadians are feeling the benefits of Canada’s strong economy, the Government is committed to ensuring that middle class Canadians and people working hard to join the middle class have the support they need as they work to build better lives for themselves and their families. Canada’s EI program provides that support in times of need, and also provides training and employment programs to help Canadians find and keep good, well-paying jobs.”
Since 2015, the Government has improved the EI benefits available to Canadians by making EI maternity and parental benefits more flexible and inclusive, and offering Canadians more options to help them care for their critically ill loved ones. At the same time, thanks to a strong and growing economy, the EI Premium rate is the lowest since 1980 and almost 14% lower than in 2015.
The Canada Employment Insurance Commission announced a further reduction in the EI premium rate. The 2019 employee EI premium rate will be $1.62 per $100 of insurable earnings, a decrease of 4 cents from the current rate. This will be the lowest EI premium rate since 1980, and for most Canadian workers, the lowest they have paid since entering the workforce.
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