ECONOMY
The average value of unemployment benefits in all fifty US states
The US unemployment rate holds steady as the number of unemployment benefit claims ticks up slightly. What is the average value of unemployment benefits?
The Bureau of Labor Statistics released the May Employment Report on Friday, which showed no change in the unemployment rate, with the figure sticking at four percent. In total, 227,000 jobs were gained last month, exceeding short of the 195,000 jobs forecasted by Reuters.
This news comes as the Federal Reserve continues to evaluate whether or not the US economy is prepared for a lower interest rate environment, with the central bank having paused its rate hikes but choosing to keep the federal reserve rate at one of the highest levels in recent memory. The goal of increasing interest rates was to reduce inflationary pressure in the economy. While price growth has slowed, some sectors like housing and energy have continued to see prices rise at unsustainable rates. The Federal Open Market Committee (FOMC), tasked with determining the appropriate federal funds rate level, is set to meet again in early June. The May Employment Report will be one indicator for them to consider as they evaluate their options.
A look at unemployment benefits across all 50 states
Though the unemployment rate has held steady, the number of unemployed workers claiming benefits has ticked up in recent weeks. Across the country, 1,792,000 workers were receiving benefits as of 25 May, and last week, an additional 229,000 filed a claim, an increase of 8,000 over the proceeding week.
Unemployment insurance is available to some workers who have lost their jobs so long as they did not quit voluntarily, paid into the system, and were not fired for misconduct. However, as millions saw during the pandemic, the systems available to workers to claim benefits are often full of glitches, and the benefit amounts allotted to workers often fall short of what is needed to ensure the financial well-being of themselves and their households.
Average Monthly Unemployment Benefits
- Alabama: $1,017.76
- Alaska: $1,184.84
- Arizona: $1,249.56
- Arkansas: $1,327.28
- California: $1,479.80
- Colorado: $2,480.56
- Connecticut: $1,969.28
- Delaware: $1,458.88
- District of Columbia: $1,625.52
- Florida: $1,059.76
- Georgia: $1,370.80
- Hawaii: $2,601.20
- Idaho: $1,840.68
- Illinois: $2,061.68
- Indiana: $1,298.28
- Iowa: $2,134.52
- Kansas: $1,901.48
- Kentucky: $1,937.92
- Louisiana: $1,011.40
- Maine: $1,900.32
- Maryland: $1,573.20
- Massachusetts: $2,816.56
- Michigan: $1,386.08
- Minnesota: $2,349.40
- Mississippi: $899.56
- Missouri: $1,180.52
- Montana: $1,794.12
- Nebraska: $1,820.00
- Nevada: $1,702.28
- New Hampshire: $1,500.76
- New Jersey: $2,399.96
- New Mexico: $1,564.04
- New York: $1,704.00
- North Carolina: $1,232.52
- North Dakota: $2,278.64
- Ohio: $1,618.24
- Oklahoma: $1,707.12
- Oregon: $2,250.12
- Pennsylvania: $1,935.24
- Puerto Rico: $870.24
- Rhode Island: $1,874.00
- South Carolina: $1,208.64
- South Dakota: $1,818.84
- Tennessee: $1,048.80
- Texas: $1,985.76
- Utah: $2,286.52
- Vermont: $2,163.64
- Virgin Islands: $1,663.24
- Virginia: $1,399.12
- Washington: $2,834.32
- West Virginia: $1,705.56
- Wisconsin: $1,395.84
- Wyoming: $1,971.12
- United States: $1,807.32
Aside from Puerto Rico, which recorded the lowest monthly benefit amount of $870.24, Mississippi ranked first for the lowest average check among US states at $899.56. At the high end of the spectrum, unemployed workers in Washington ($2,834.32), Massachusetts ($2,816.56), Hawaii ($2,601.20), Colorado ($2,480.56), and New Jersey ($2,399.96) saw the largest average payments.