Once you know how to calculate unemployment, you will have a better idea of how much you could receive per week or per benefit period if you were to lose your job. This is important when you consider taking unemployment or finding another job. If you will make less money working a lower-paying job, unemployment may be the way to go to keep up with your bills and other obligations.
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Figure out your base period for calculating unemployment. For instance, if you started your claim in November 2008, you would use a base period of July 1, 2007, to June 30, 2008. The highest quarter during this base period is used to calculate how much you have earned. The earnings are only for work preformed for an employer that pays unemployment insurance.
Look at the base period where you received the highest pay. This is the base period that is used to calculate your potential unemployment benefits.
Calculate the highest quarter earnings with a calculator. You will receive 4 per cent of the total wages in the highest quarter. The maximum weekly benefit rate requires earnings of £5,768 for a weekly check of £230. The minimum weekly benefit rate requires £861 for a weekly check of £34.
Calculate what your weekly benefits would be if you have another job. Take your weekly gross income and subtract £19. Multiply the balance by 67 per cent. Take the total WBR and subtract that total to get the amount you will receive for partial unemployment benefits for that week. Example: Weekly Benefit Rate is £217 Gross income is £178. Gross income £178 - £19 = £159; £159 X .67 = £106.7; £217 WBR - £106.7 = £111.0; round £111.0 down to £110.
Calculate your unemployment benefits for every week if the partial gross income is different. The amounts will vary if the gross income varies.
Tips and warnings
- Make sure to claim any and all income that is received in any given week.
- Do not file false claims or the state will hold back your benefits the next time you file.