Virgin Islands Commissioner Gary Molloy of the Virgin Islands Department of Labor (VIDOL) informs the public that the Maximum Weekly Benefit Amount (MWBA) in the Virgin Islands for the benefit year beginning Jan. 1, 2023, is $629, which is a two percent reduction from the previous year. The Taxable Wage Base (TWB) for employer contributions is $30,200.
In accordance with Title 24, Chapter 12, Section 303(c) of the Virgin Islands Unemployment Insurance Act, the Maximum Weekly Benefit Amount shall be an amount equal to 65 percent of the established Average Weekly Wage in insured work rounded to the next lower dollar. The established Average Weekly Wage based on employment and wage statistics from the Bureau of Labor Statistics is $967.21.
In accordance with Title 24, Chapter 12, Section 308(c) of the Virgin Islands Unemployment Insurance Act, the Taxable Wage Base is 60 percent of the Average Annual Wage in insured work rounded to the nearest one hundred dollars. The established Average Annual Wage based on employment and wage statistics from the V.I. Bureau of Labor Statistics is $50,294.79.
For more information, contact V.I. Department of Labor’s Unemployment Insurance Division at 773-1994 on St. Croix or 776-3700 on St. Thomas.
Individuals can also visit www.vidol.gov and follow VIDOL’s Facebook page.
