Montana’s unemployment insurance rate going down

HELENA (AP) — The state’s improving economy and low unemployment rate mean most businesses will see a reduction in their unemployment insurance rates next year.

The state Labor Department says Montana’s unemployment insurance contribution rate will drop from an average of 1.52 percent of wages to 1.12 percent for 2016.

In 2014 the rate was 1.92 percent.

Unemployment insurance rates are calculated on a schedule that takes into consideration the ratio of the amount of money in the state’s unemployment trust fund compared to the total wages it is covering along with previous unemployment claims filed by former employees of individual businesses.