On November 14, 2011, the Board of Directors of the Canada Employment Insurance Financing Board passed a resolution setting the 2012 Employment Insurance (“EI”) premium rate for residents of all provinces, with the exception of Quebec, at $1.83 per $100 of insurable earnings. The EI premium rate for Quebec residents has also been set, at $1.47 per $100 of insurable earnings.

This resolution is consistent with the federal government’s prior announcement of a reduction in the maximum potential increase in EI premium rates for 2012 from 10 cents, to 5 cents.