How To Determine The Federal Unemployment Tax Rate | How Can It Affect You?

VIDEO TRANSCRIPTION – How To Determine The Federal Unemployment Tax Rate. How Can It Affect You? Some of you may know that this past Friday, we had a federal tax rate that came out, even though the percentage sounds good, 4.4%. 

Did you know that we lost almost 100,000 jobs, while the experts predicted 50,000 plus jobs? Big difference.

Hi, I’m Steven D. Cooper, also known as Coach Coop with Coopers Accounting Service, because your financial freedom matters. If you would like to learn more great tax tips, download our popular financial guide at our website, yourfinancialfreedommatters.com or click on the link below this video.

The unemployment tax rate formula, quite simple. It’s the number of unemployed people over the employed people plus the unemployed people you then factor and get the unemployment rate. How often does this come out? Once a month. Typically the first Friday of the month. 

It is usually the big news for that day and could be for the weekend depending on how it impacts you. Once again, we lost over 100,000 jobs. That means that our economy for itself has constricted itself.

Not good for the economy. 100,000 people lost their jobs. Now, when the economy expands, that means, in this example, plus 100,000 people. That is a good, stable economy for one month, especially for February, because February is a short month.

Now, with proper research, you then can go and find out what markets are striving, what markets are not striving. That is another advantage of what the unemployment rate brings about. There are also unemployment rates for the state.

For example, I live in the state of California. We talk about the state of California. We talk about the county of LA. We talk about the city of LA. Our firm is based in Long Beach, and obviously I’m more interested in what impacts us in the city of Long Beach as well too.

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