Unemployment Compensation
Max Weekly Benefit Amt.
Max Weeks of Benefits
Max Benefit Amount
Your unemployment compensation will be paid out on a weekly basis, based on your Weekly Benefit Amount and any alterations made by any wages you’ve earned. The best way to gauge the amount you’ll receive is to apply and see how much you qualify to receive, though you can calculate it on your own.
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Calculating New Jersey Unemployment Benefit Amounts
Determine Your Weekly Benefit Amount
Your Weekly Benefit Amount (WBA) is calculated by finding your average weekly wage over the last eight calendar weeks and is paid out at a two-thirds rate of that average weekly rate. Weekly Benefit Amounts in New Jersey max out at $615, one of the highest rates in the nation.
EXAMPLE: Average your weekly wages for the last eight weeks (add them all up and divide by eight). If your average weekly wage ended up being $860, you earn two-thirds of that amount (866 x 0.66) or $567.
Determine Your Maximum Benefit Amount
Your Maximum Benefit Amount (MBA) is the extent of your benefits. This is calculated by multiplying your Weekly Benefit Amount by 26, the maximum number of weeks you can claim benefits. In the case mentioned above, this would be $14,757 ($546 x 26), which is rounded down to the nearest whole dollar.