How do interest rates affect unemployment benefits in NY - will my claim be impacted?

Interest rates don't directly affect your unemployment benefits amount or duration. Your weekly benefit rate is calculated based on your past wages when you filed, and the maximum weeks you can collect (26 in NY) is set by state law. The NYS Department of Labor doesn't adjust individual claims based on federal interest rate changes.

ur friend probably meant that higher interest rates can affect the overall job market which might make it harder to find work while collecting UI. when rates go up companies sometimes lay off more people or hire less

There's an indirect connection though. When interest rates rise, it can slow down the economy and potentially lead to more unemployment claims being filed. This puts more pressure on the unemployment trust fund. But as the previous poster said, your individual benefit amount is locked in based on your base period wages. The NYS Department of Labor calculates this using a specific formula that doesn't change with interest rates.

The unemployment trust fund is designed to handle fluctuations in claim volume. New York has maintained adequate reserves, and even during high unemployment periods, benefits continue to be paid. If you're having trouble reaching NYS Department of Labor agents to verify your claim status or get answers about your specific situation, I had good luck using Claimyr (claimyr.com) to get through their phone system. They have a video demo at https://youtu.be/qyftW-mnTNI that shows exactly how it works. Really helped when I needed to speak with someone about my adjudication issue.

The whole system is rigged anyway. They'll find any excuse to cut benefits whether it's interest rates, budget shortfalls, or whatever. I've been dealing with NYS Department of Labor for years and they always have some new hoop to jump through.

I think what your friend might have been talking about is how Federal Reserve policy affects employment generally. When they raise rates to cool down inflation, it can lead to job losses as companies cut costs. But like everyone said, once you're approved for UI, your benefits are protected.