12:00 am
June 24, 2015
Today the Employment Security Department reported that Washington’s average annual wage was $54,829 last year (an increase of 4.2 percent over 2013). The average weekly wage was $1,054.
Unemployment insurance (UI) benefits and taxes (and workers’ compensation benefits) are calculated based on the average annual wage. Consequently, for new claims, the minimum weekly unemployment benefit will increase from $151 to $158 and the maximum benefit will increase from $637 to $664. In 2014, Washington’s average weekly UI benefit amount was $387.01 (the nation’s 5th highest).
Also, for 2016, unemployment taxes will be paid by employers on the first $44,000 of an employee’s wages. The taxable wage base was $42,100 in 2015 (the highest in the country).
Categories: Categories , Economy , Employment Policy.Tags: unemployment insurance , workers' compensation