For those who receive benefits from the state — whether for unemployment, disability or family leave — next year’s payments will be higher. The state Department of Labor & Workforce Development has announced increases in the maximum benefit rates, which will go into effect for claims filed next year. The maximum weekly benefit amount for unemployment will rise to $804 per week, up from the current $731. For temporary disability and family leave, the maximum weekly benefit will go to $993, a $90 increase. Workers’ comp claims rise to a maximum of $1,065 a week, up from $969. Maximum benefit rates are recalculated each year, based on the statewide average weekly wage.
The latest data on unemployment shows that new jobless claims remain below pre-pandemic levels. Another 205,000 workers in the U.S. filed for first-time unemployment benefits in the latest week and that number remains near a 50-year low. Gus Fauscher, the chief economist of PNC Financial Group, expects the job market to remain strong.
We’ve reported a lot this year on the potential impact of climate change in communities around our state. A recent report from First Street Foundation and the design and engineering firm, Arup, finds New Jersey has more than 15,000 commercial properties at risk of flooding annually, with the potential for $220 million in direct structural damage. But Dr. Jeremy Porter, head of research and development at the foundation, says the true economic costs are much greater. The report finds that over the next 30 years, the number of buildings at risk will continue to grow in New Jersey and in other vulnerable areas.
