What is Massachusetts State Average Weekly Wage?
The Massachusetts state average weekly wage (SAWW) for 2023 is $1,765.34. This is calculated by the Massachusetts Department of Employment and Training (DET) by dividing the total wages paid to all employees in the state by the total number of employees. The SAWW is used for a variety of purposes, including:
- Calculating benefits for state programs: The SAWW is used to calculate benefits for state programs such as Paid Family and Medical Leave, Unemployment Insurance, and Workers’ Compensation.
- Setting minimum wage: The SAWW is used to set the minimum wage in Massachusetts. The minimum wage is currently $15 an hour, which is 85% of the SAWW.
- Analyzing the economy: The SAWW is used to analyze the health of the Massachusetts economy. For example, a rising SAWW indicates that wages are increasing and that the economy is growing.
The SAWW varies by industry and occupation. For example, the average weekly wage in the technology industry is much higher than the average weekly wage in the retail industry. The average weekly wage also varies by region. For example, the average weekly wage in Boston is much higher than the average weekly wage in rural Massachusetts.
Here are some factors that contribute to the SAWW:
- The cost of living: The SAWW is higher in areas with a higher cost of living. For example, the SAWW in Boston is higher than the SAWW in rural Massachusetts because the cost of living in Boston is higher.
- The skill level of the workforce: The SAWW is higher in areas with a more skilled workforce. For example, the SAWW in Massachusetts is higher than the SAWW in Mississippi because Massachusetts has a more skilled workforce.
- The demand for labor: The SAWW is higher in industries with high demand for labor. For example, the SAWW in the technology industry is higher than the SAWW in the retail industry because there is high demand for tech workers.
The SAWW is an important economic indicator. It can be used to track the health of the economy, set minimum wage, and calculate benefits for state programs. Are you interested in learning more about the factors that contribute to the SAWW in specific industries or occupations? Call workers comp lawyer Todd Beauregard For a Free Consultation! 978-275-1919.