Department of Labor Commissioner Catherine Hendry announced on Thursday that the maximum weekly benefit amount (M.W.B.A.) of unemployment money that residents in the territory are eligible to receive this year is $480, up $3 from last year. The taxable wage base for employer contributions is $23,000, Ms. Hendry said.
According to Ms. Hendry, citing the Virgin Islands Unemployment Insurance Act, the M.W.B.A. shall be an amount equal to 65 percent of the established average weekly wage in insured work rounded to the next lower dollar. The established average weekly wage, based on employment and wage statistics from our Bureau of Labor Statistics, is $737.87, according to Ms. Hendry.
The labor commissioner, again citing the unemployment law, said the taxable wage base is 60 percent of the average annual wage in insured work rounded to the nearest $100. The established average annual wage, based on employment and wage statistics from our Bureau of Labor Statistics, is $38,369.24.
The worker’s compensation maximum benefit amount for disability income benefits has increased from $489.00 per week or $97.80 per day to $492.00 per week or $98.40 per day. This will affect all injuries that occurred on or about January 1, 2016.
Tags: department of labor, unemployment
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