In this article, we will take a look at the 5 states with the best unemployment benefits in 2024. If you would like to read our discussion on the US economy, you can go to the 15 States With the Best Unemployment Benefits in 2024.
5. Texas
The Texas government provides a weekly unemployment benefit amount equivalent to 1/25th of the recipient’s earnings in the maximum quarter of their base period. This is capped at 47.6% of the average weekly wage in covered employment. The weekly benefit ranges from a minimum of $73 to a maximum of $577. Texas maintains a cost-of-living index of 93, slightly below the national average. Individuals earning additional income while on unemployment benefits will have the state disregard the greater of $5 or 1/4th of their weekly benefit amount.
4. Massachusetts
Massachusetts offers unemployment benefits for a duration of up to 26 weeks, with eligible individuals receiving a weekly benefit ranging from a minimum of $98 to a maximum of $1,033. The calculation is based on 50% of average weekly earnings in the base period. For individuals earning additional income while on unemployment benefits in Massachusetts, there is a reduction of 1/3rd of their weekly benefits. However, the cost of living index in the Bay State is considerably high at 148.5.
3. Wyoming
Wyoming provides unemployment benefits for a maximum duration of 26 weeks. These benefits are calculated by dividing the earnings in the highest quarter of the base period by 25. The state has a population of 0.58 million, and its annual GDP is $48.8 billion as of Q3 2023. For eligible individuals in Wyoming, the weekly benefit amount ranges from a minimum of $43 to a maximum of $595. Individuals earning any other form of income while receiving unemployment benefits experience a reduction of 50% in their benefits. Wyoming’s cost of living index is 92.8, indicating a cost of living lower than the national average.
2. Kansas
In Kansas, the maximum weekly unemployment benefit is set at $549, with a minimum benefit payment of $147. Despite the relatively lower unemployment benefits duration, capped at 16 weeks, the state offers a cost-effective living environment, as reflected in its cost of living index of 86.5. To qualify for benefits, recipients must be unemployed or partially employed, earning less than the total of their weekly unemployment insurance benefits. Kansas has an annual GDP of $211 billion and is home to a population of 2.94 million.
1. North Dakota
In North Dakota, the state provides unemployment benefits for up to 26 weeks. Eligible residents in North Dakota can receive a weekly benefit ranging from a minimum of $48 to a maximum of $748. The values are calculated as 1/65th of the total earnings in the two highest quarters and added to half of the earnings in the third highest quarter. Individuals earning additional income while on unemployment benefits will face a reduction of 60% of their weekly benefits. North Dakota maintains a cost-of-living index of 94.6, which is below the national average.
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