Last week the Employment Security Department (ESD) reported that the state's average annual wage was $56,273 in 2015 (a 2.6 percent increase over the previous year). This has implications for unemployment insurance (UI) benefits and taxes and workers' compensation benefits.

According to ESD, for new claims, the minimum weekly unemployment benefit will increase from $158 to $162 and the maximum weekly unemployment benefit will increase from $664 to $681. Additionally, for 2017, unemployment taxes will be paid by employers on the first $45,000 of an employee's wages. Washington's taxable wage base was $44,000 in 2016 (the highest in the nation).

Today the Department of Labor and Industries announced that due to the average wage increase, workers' compensation time-loss and pension benefits will increase by 2.6 percent.