Washington’s average annual wage grew by 4.8 percent in 2016 to $58,957, representing the largest percentage increase year over year since 2007.<\/p>\n
The average weekly wage rose from $1,082 in 2014 to $1,133 in 2016, according to the state Employment Security Department These figures include only those wages covered by unemployment insurance.<\/p>\n
Much of the increase was driven by a 7.3 percent increase in total earnings, which grew by nearly $12.5 billion in 2016. Overall, the average number of workers in Washington covered by unemployment insurance grew by just over 74,000 in 2016.<\/p>\n
The industries with the largest average wage growth in 2016 were:<\/p>\n
• Retail trade, up 19.9 percent;<\/p>\n
• Information, up 5.8 percent; and<\/p>\n
• Real estate, rental and leasing, up 5.2 percent.<\/p>\n
The average annual wage is used to calculate unemployment benefits for jobless workers. The minimum weekly unemployment benefit, calculated at 15 percent of the average weekly wage, will increase by $7 to $169 for new claims opened on or after July 3. At the same time, the maximum weekly benefit, which is the greater of $496 or 63 percent of the average weekly wage, will increase by $32 to $713.<\/p>\n
Currently, about 20 percent of unemployment insurance claims are paid the maximum benefit amount, and 10 percent receive the minimum.<\/p>\n
In addition to unemployment benefits, the average annual wage is used in computing employers’ unemployment taxes. Beginning in 2018, employers will pay unemployment taxes on the first $47,300 paid to each employee — up from $45,000 in 2017.<\/p>\n
The state average wage also is used by the Department of Labor & Industries in calculating worker’s compensation benefits.<\/p>\n","protected":false},"excerpt":{"rendered":"
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