Washington businesses would need to shoulder roughly $700 million in additional taxes in a few years unless the projected finances of the state’s unemployment insurance fund improve.

Officials are looking at ways to avoid such a scenario.

Unemployment is relatively low in Washington. But pandemic-era policies and increased usage during the past couple of years have strained the state’s unemployment system, which provides temporary payments to residents who lose their jobs and are looking for new work.

Next year, employer taxes going into Washington’s unemployment trust fund are expected to total $1.7 billion, while benefit payouts rise to $2.4 billion, according to the latest actuarial analysis released this month.

At the end of September, the trust fund — which only pays benefits and

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