The Minnesota Department of Employment and Economic Development announced Friday that the maximum weekly benefit amount for new unemployment benefit accounts will increase from $467 to $478 effective August 3, 2003. The average weekly wage earned by Minnesota workers has risen to $717.53 in 2002 compared to $701.10 in 2001. State law requires the maximum weekly benefit amount to be adjusted each year.

"Despite tough economic times, Minnesotan's average wages increased, and unemployment benefits will increase as a result," said DEED Commissioner Matt Kramer. "And with the news that the nation?s jobless claims have dipped below 400,000 for the first time in five months, we have some positive signs that things may be looking up."

Persons applying for unemployment benefit accounts receive a weekly benefit equal to approximately 50 percent of their average weekly wage up to the state maximum. To receive the maximum weekly benefit amount, an unemployed worker must have an average weekly wage of $956 during four quarters of work.