Canada's unemployment insurance (EI) premiums will fall by almost 4 percent next year, Finance Minister Jim Flaherty said on Thursday.

Canada's Finance Minister Jim Flaherty announced it.

The rate for employees will fall to $1.73 from $1.80 per $100 of insurable earnings. Employers will have to pay $2.42 instead of $2.52 per $100 of insurable earnings.