Iowa Workforce Development
07/05/2024 | Press release | Distributed by Public on 07/05/2024 07:13
Iowans’ Unemployment Benefits To Increase Starting July 7
Iowa Workforce Development Communications
For Immediate Release
Date: July 5, 2024
Contact: Jesse Dougherty
Telephone: 515-725-5487
Email: [email protected]
Iowans' Unemployment Benefits To Increase Starting July 7
DES MOINES, IOWA - Iowa Workforce Development, as part of its required annual review of unemployment insurance wages, announced that the maximum weekly benefit for unemployed Iowans and will increase for claims filed effective July 7, 2024.
Per Iowa law, IWD uses a formula each year to determine the maximum and minimum benefit amounts, which takes into account the number of Iowans covered by unemployment insurance and their gross wages. This update will take effect the week of July 7.
This year's review has determined that the maximum weekly benefit for unemployed Iowans will increase to $739 in Fiscal Year 2025, up from $714 in FY 2024. The full table of benefit rates for FY 2024 is below.
| Number of Dependents | Maximum Percentage of Statewide Average Weekly Wage | Maximum Weekly Benefit Amount Effective 7-7-2024 | Minimum Weekly Benefit Amount Effective 7-7-2024 | Current Maximum Weekly Benefit Effective 7-2-2023 |
| 0 | 53 | $ 602.00 | $ 90.00 | $ 582.00 |
| 1 | 55 | $ 625.00 | $ 94.00 | $ 604.00 |
| 2 | 57 | $ 648.00 | $ 98.00 | $ 626.00 |
| 3 | 60 | $ 682.00 | $ 103.00 | $ 659.00 |
| 4 or more | 65 | $ 739.00 | $ 108.00 | $ 714.00 |
IWD's annual review also recalculates the state's taxable wage base, or the portion of employee wages that employers are required to pay taxes on to fund unemployment insurance. For Calendar Year 2025, the taxable wage base will increase to $39,500, up from $38,200 in CY 2024. That calculation is based on the average weekly wage, which was $1,137.20 in 2023. The average annual wage in 2023 was $59,134.62.
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