NYS Department of Labor benefits affected by interest rate changes - confused about how this works

Interest rates don't directly affect your weekly unemployment benefit amount from NYS Department of Labor. Your UI payment is calculated based on your previous wages, not current economic conditions. The weekly benefit rate and maximum duration (26 weeks for regular unemployment) are set by state law. What might be confusing you is that interest rates can affect the overall job market - when rates are high, companies might hire less, which could mean more people filing for unemployment. But your individual claim amount stays the same.

yeah i think you're overthinking this, the amount on your unemployment claim doesnt change because of interest rates or whatever. i've been collecting for 8 weeks now and my payment has been exactly the same every week when i do my weekly claim

The previous answers are correct about your individual benefits, but there's more to consider. While interest rates don't change your weekly UI amount, they do affect the broader unemployment landscape. Higher interest rates can slow economic growth, leading to more layoffs and longer unemployment periods for everyone. This means more competition for jobs during your job search. The NYS Department of Labor tracks these trends, but they don't adjust individual benefit calculations based on economic conditions. Focus on your weekly claims and job search requirements rather than worrying about macro-economic factors you can't control.

I was having trouble getting through to NYS Department of Labor to ask questions about my claim status during adjudication, and someone told me about this service called Claimyr that helps you actually reach an agent by phone. I tried it at claimyr.com and watched their demo video at https://youtu.be/qyftW-mnTNI - it actually worked and I got to speak with someone at NYS Department of Labor within an hour instead of calling for days. Might be helpful if you need to clarify anything about how your benefits work.

Wait I'm confused now... I thought when they raise interest rates it means everything gets more expensive? Doesn't that mean our unemployment should go up too to match? This whole economic stuff is so confusing and nobody explains it properly.

been thru this before and can confirm your benefits dont change. just keep doing your weekly claims and job search log like normal