Equation for Regular Benefits T

The regular benefits for a projection year are equal to prior year’s regular benefits times the yearly growth in unemployed (potential claimants), the yearly growth in average benefits and the yearly growth in the ratio of unemployed receiving benefits.

The yearly growth in unemployed is calculated as the ratio of the unemployment rate in the projection year to the prior year’s unemployment rate multiplied by the ratio of the labour force in the projection year to the prior year’s labour force.

The yearly growth in average benefits is calculated as the ratio of the week weight in the projection year to the previous year’s week weight, multiplied by ratio of the average weekly benefits in the projection year to the previous year’s average weekly benefits.

The yearly growth in the ratio of unemployed receiving benefits is equal to the beneficiary-to-unemployed ratio of the projection year, divided by the previous year’s beneficiary-to-unemployed ratio.

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