RATE OF INSURED UNEMPLOYMENT. "Rate of insured unemployment", for purposes of Sections 2-706 and 2-707 of this title, means the percentage derived by dividing:
(1) the average weekly number of weeks claimed for weeks of unemployment for regular benefits, including interstate claims filed in this state with respect to the most recent thirteen-consecutive-week period, as determined by the Commission on the basis of its reports to the Secretary of Labor of the United States, by
(2) the average monthly employment covered under this act for the first four (4) of the most recent six (6) completed calendar quarters ending before the end of such thirteen-week period.
Added by Laws 1980, c. 323, § 2-708, eff. July 1, 1980. Amended by Laws 1982, c. 304, § 14, operative Oct. 1, 1982.