Unemployment / New Jersey / Calculator

New Jersey Unemployment Calculator: Estimate Your Weekly Pay

Written by Ben Tejes
Updated Oct 4th, 2022

Did you just lose your job and wonder if an New Jersey unemployment calculator can help estimate your eligibility, benefit amount and duration? Or are you worried that you will face New Jersey unemployment?

That gut-wrenching anxiety when you fear that you face bills that you cannot pay and debt collectors ringing your phone. That said, you may qualify for unemployment, and we will help you estimate whether you qualify and how much you qualify for in New Jersey.

How Much is New Jersey Unemployment?

The New Jersey unemployment department has a system for determining how much your weekly unemployment payment amount will be. 

People who are eligible for unemployment in New Jersey will receive a weekly payment amount between $0 and $804. The maximum length of New Jersey unemployment benefits is 26 weeks.

How much will your receive each week from New Jersey unemployment insurance? Take the free New Jersey unemployment benefits calculator below based on the New Jersey state guidelines to estimate your benefit amount.

How is Unemployment Calculated in New Jersey? 

You may wonder why you are not eligible for the New Jersey maximum unemployment amount of . Let’s go through how your New Jersey unemployment is calculated

The weekly benefit rate is capped at a maximum amount based on the state minimum wage. For 2022, the maximum weekly benefit rate is $804. We will calculate your weekly benefit rate at 60% of the average weekly wage you earned during the base year, up to that maximum. We determine the average weekly wage based on wage information your employer(s) report.

In addition, this New Jersey government estimator can also help you estimate your weekly benefit amount and can be used in conjunction with our calculator above if helpful.

What happens if your weekly benefit amount calculation is over the $804 weekly maximum set by the State of New Jersey? If you are someone who earns more than this amount annually you will just receive the weekly maximum. Currently, that is the maximum amount of unemployment weekly benefits that are allowed. That amount may go up as the cost of living continues to increase but as for right now it is capped at weekly.  

When Will I Receive My First Unemployment Payment?

Please note you may have to wait until you receive your first weekly benefit payment.

In a few business days after you file a New Jersey unemployment claim for unemployment in New Jersey you may receive a form in the mail. This document describes an estimate on what you will receive as your total annual benefit, and weekly benefit amount.  

How long does unemployment last in New Jersey? 

Unemployment benefits can last 26 weeks in New Jersey. That being said, there are several requirements that you must complete/meet in order to keep your benefits active. 

There is also the possibility that you can exhaust your claim. Exhausting your claim happens when you use up all your eligible funds for the year. If this happens you are not eligible to get claim more unemployment until your initial claim expires.

Claims often expire about 52 weeks (1 year) from when you filed for benefits the first time. At that point you would just file a new initial claim. If you get to a point where you are unsure on the dollar amount of benefits you have available to you, you may be able to login to your portal to understand your eligibility.

Unemployment Eligibility Overview

Let’s go through an unemployment overview. If you are here, you probably have either lost your job, are about to lose your job, or know someone who has lost their job and you are trying to find resources to help calm their anxiety.  There are many reasons why you may become unemployed. The most common reasons of job loss are:  

  • Furloughed  
  • Terminated  
  • Going on Leave of Absence (voluntary or involuntary)  
  • Resignation 

Do any of these apply to you? You may qualify for unemployment benefits, but let’s look at the New Jersey unemployment language below. 

To be eligible for Unemployment Insurance benefits in 2022, you must have earned at least $240 per week (a base week) during 20 or more weeks in covered employment during the base year period, or you must have earned at least $12,000 in total covered employment during the base year period.

In addition, you may need to work to maintain eligibility by showing that you have been applying for jobs. For more information, check New Jersey unemployment maintaining eligibility.

If you apply and are denied unemployment benefits, please check the New Jersey unemployment denials appeals process. You can reach the unemployment office at 888-795-6672. Here are the hours that the unemployment office is reachable: 8AM to 3:30PM, Monday to Friday

Important Aspects About The Unemployment Benefits Calculator 

This New Jersey unemployment calculator above is not designed to be any form of guarantee, more so an estimate. It is meant to provide some hope, and ultimately alleviate any anxiety you may be having by helping you understand your financial hardship options in New Jersey.  

In order to get the best results, please enter your data as truthful and as accurate as possible. This will help save you from a potential let down if you end up needing to file for some form of debt relief or financial assistance.  

Financial Hardship Options While Unemployed in New Jersey

Let’s say your unemployment leads to a lawsuit, which leads to a New Jersey wage garnishment. Then what?

There is nothing worse than having a lot of debt and losing your main/only source of income. There are things that you are going to make a priority like your rent/mortgage, utilities, food, medical care. That is only a fraction of your financial picture, what do you do about the rest? Like other debt obligations such as unsecured debts (credit cards, collections, personal loans, etc.) If you feel like you have no options other than to just not pay your debt and get hounded with collection calls until you get back on your feet, think again. Here are some ways to deal with your debt while you are navigating this next chapter of life.  

Chapter 7 Bankruptcy in New Jersey 

Chapter 7 bankruptcy in New Jersey is also known as liquidation bankruptcy. Most unsecured debts are usually discharged within 90-120 days (3-4 months). 

You must meet certain income and asset requirements to qualify for this type of bankruptcy, which is the New Jersey bankruptcy means test. Here’s the household income requirements below for cases filed in New Jersey on or after May 15, 2022.

 
# of PeopleAnnual Income
1$77,681
2$91,716
3$113,460
4$143,987
5$153,887
6$163,787
7$173,687
8$183,587
9$193,487

Not sure if you would qualify for chapter 7 bankruptcy? You can estimate your Chapter 7 qualification and cost here.

Please note that the cost to file bankruptcy in New Jersey is $338 for a Chapter 7 bankruptcy or $313 for a Chapter 13 bankruptcy. That said, if you cannot afford this, you can potentially get those fees waived if your income is below the following guidelines.

# of People150% Poverty Guideline
1$13,590
2$18,310
3$23,030
4$27,750
5$32,470
6$37,190
7$41,910
8$46,630
9$51,350
* Add $4,720 for each individual in excess of 9.

If you cannot afford any of these options, please consider the following legal aid resources in New Jersey

Chapter 13 Bankruptcy in New Jersey 

Chapter 13 bankruptcy in New Jersey is a payment plan bankruptcy often of 3 or 5 years. Individuals may choose this option if they do not qualify for Chapter 7 bankruptcy or if you have equity in an asset such as a vehicle above the New Jersey bankruptcy exemptions. 

In Chapter 13 bankruptcy, priority creditors are paid back first (mortgage, auto loans, child support, IRS debt and other secured debts.) At that point, any left-over money may go to pay your unsecured creditors. For 3 or 5 years you will make monthly payments to the bankruptcy trustee for a set amount until you fulfill the agreed amount. 

You can estimate your chapter 13 bankruptcy payments here

New Jersey Debt Relief

New Jersey Debt Relief is when you negotiate your debts with your creditors to pay less than you owe. Usually, you pay 40-50% of what you owe. You typically will work with a debt settlement company or your attorney to get an agreement in writing. 

If you choose to work with a debt settlement company, you will make monthly payments to them for 12-48 months. There are many amazing debt settlement companies out there, but there are also many not so good ones. Check out our article on how to find a good debt settlement company here. Are you curious about what your debt settlement payment could be? 

You can check that out here

Debt Management  

Debt management is typically done via credit counseling. Credit counselors can help you create a debt pay down strategy. In many cases they can also work with you and your creditors to negotiate a Debt Management Plan (DMP) with your creditors. A DMP is an agreement between you and your creditors that may include a lower monthly payment, reduced interest, and fee reversals. These plans typically are completed in 2-5 years and the payments are processed by the credit counselor or credit counseling agency and then paid to the creditors on your behalf. Need help finding a reputable credit counselor? 

Debt Payoff Planning 

Last but most certainly not least, is debt payoff planning. Debt payoff planning is where you make a plan and pay your debts off in a strategical order. Usually in the order of lowest/highest balance or lowest/highest interest rate. This may be a rather difficult thing to achieve, especially while you are unemployed or on a limited income. Here at Ascend, we have created our own debt payoff planning app that can help you bridge the gap from plan to execution. You can try that out here

Conclusion

You may recently be unemployed or are nearing unemployment in New Jersey. Use the New Jersey unemployment calculator below to estimate your weekly benefit amount and how long you may receive those benefits.