Examlex
An employee receives an hourly wage rate of $15, with time and a half for all hours worked in excess of 40 during the first week of the calendar year. Payroll data for the first week of the calendar year are as follows: hours worked, 48; federal income tax withheld, $120; social security tax rate, 6%; and Medicare tax rate, 1.5%; state unemployment tax, 5.4% on the first $7,000; federal unemployment tax, 0.8% on the first $7,000. What is the net amount to be paid to the employee?
Region Of The Country
A specific geographical area within a country, distinguished by certain characteristics, such as culture, climate, or economic activity.
Bureau Of Labor Statistics
A governmental body in the United States responsible for gathering, processing, analyzing, and distributing crucial statistical information about the labor market, employment conditions, and variations in economic prices.
Business Establishments
Places of business where commercial, industrial, or professional activities are conducted, often referring to a physical location.
Frictional Unemployment
Short-term unemployment that occurs when people are between jobs or entering the labor force for the first time.
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