Washington states annual wages are up but the news isn’t good
By Seattle Business Magazine June 23, 2011
Washington States average annual wage jumped up by 2.1 percent in 2010, but the news isn’t necessarily good. The wage rates may have climbed because employers eliminated more lower-wage jobs than higher-wage jobs. Another possible explanation could be a decision by employers to add more work hours to part-time employees rather than hiring new workers. The average annual wage now stands at $48,162, which means a weekly wage of $926.
The increase will boost unemployment benefits for jobless workers, as the average weekly wage is used to determine unemployment benefits. Minimum weekly unemployment benefits, calculated at 15 percent of the average weekly wage, will increase by $3 to $138. And maximum weekly benefits, calculated at 63 percent of the average weekly wage, will increase by $13 to $583. Ten percent of current workers filing unemployment claims receive the minimum benefit amount, and 20 percent receive the maximum amount.
This new data will also be used to determine new employers unemployment taxes. In 2012, employers will begin paying unemployment taxes on the first $38,200 paid to each employee, up from $37,300 in 2010.