(Annapolis, MD) — Maryland employers are getting a break on the unemployment tax. Governor Martin O’Malley has announced the rate will drop to its minimum level next year due to a tripling in the state’s unemployment trust fund balance since 2009. The “Baltimore Sun” reports the rate, reflecting a boost in employment and an overall recovery in the state’s economy over the past few years, will be reduced by more than two-thirds for roughly half of all state employers. The newspaper says Maryland employers have been paying some of the highest unemployment tax rates in the nation over the past few years.
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