The unemployment contribution rate for employers will be adjusted on Jan. 1, Iowa Workforce Development (IWD) announced Thursday. The contribution rate, which is based on wages, will be set at $24,700 for 2011. Noting that trust funds in 35 states went bankrupt during the most recent recession due to massive borrowing from the federal government to cover benefits, IWD said the adjustment is being made to keep the Unemployment Insurance Trust Fund at sufficient levels to adequately provide for unemployment benefits. “Iowa Workforce Development is committed to maintaining the solvency of the Trust Fund while minimizing the effects felt by Iowa employers,” said IWD Director Elisabeth Buck.”