Gov. Henry McMaster and state Department of Employment and Workforce Executive Director William Floyd announced Nov. 6 that South Carolina’s 2024 unemployment insurance tax rates will decrease or remain the same for all employers.
“Strong economic and wage growth have played a crucial role in maintaining our trust fund balance above the required threshold,” Floyd said. “Our agency is committed to building the workforce, facilitating job placement and supporting employers. Our unemployment rate has steadily declined and now matches the low 2.9% rate of February 2020. And we have a record number of people working in South Carolina with one of the fastest growing labor forces in the country.”
Although tax rates for most business tax classes may be lower than their 2023 levels, individual businesses may still move between classes based on their unemployment claim activity. All businesses with charges against their accounts are provided a “charge statement” quarterly to review and have 30 days to protest any charges that they do not believe should be on their account.
DEW will mail tax rate notices to businesses Nov. 13. Employers may also log into their State Unemployment Insurance Tax System account to see their 2024 tax rate.
