Here's some more bad news... as if we really needed any more.
Rising unemployment taxes could hinder hiring
By CHRISTOPHER S. RUGABER,
AP Economics Writer
Sun Nov 22, 2009
WASHINGTON – As if small businesses needed another reason not to hire, consider their latest financial burden: The cost of rising unemployment itself.
Employers already are squeezed by tight credit, rising health care costs, wary consumers and a higher minimum wage. Now, the surging jobless rate is imposing another cost. It's forcing higher state taxes on companies to pay for unemployment insurance claims.
Some employers say the extra costs make them less likely to hire. That could be a worrisome sign for the economic recovery, because small businesses create about 60 percent of new jobs. Other employers say they'll cut or freeze pay.
Rising unemployment taxes could hinder hiring - Yahoo! News