COLUMBIA — South Carolina’s thrift with unemployment benefits is paying dividends for Palmetto State business owners.

In a joint Nov. 17 announcement from Gov. Henry McMaster and Department of Employment and Workforce Executive Director William Floyd, state officials announced the state’s unemployment insurance tax rates will decrease or remain the same for employers in 2026.

That equates to a $40 million overall cut from 2025 levels.

Once implemented, it would be the 13th consecutive year rates were slashed to the system, and the largest overall reduction since 2011.

"South Carolina continues to attract jobs and investment because we focus on creating the most competitive and business-friendly climate in the country,” McMaster said. “These tax cuts give employers more room to hire, ex

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