NYS Department of Labor unemployment claim - is this considered systematic risk for financial planning?
I'm working on my financial planning coursework and keep seeing unemployment listed as an example of systematic risk since it affects entire economies. But now that I'm actually filing for unemployment benefits through NYS Department of Labor, I'm wondering if this is accurate? My claim has been in adjudication for two weeks and I'm starting to stress about my personal financial situation. From a practical standpoint, losing my job feels very much like an individual risk rather than something that affects everyone equally. Has anyone else thought about this while dealing with their own unemployment claim? Maybe I'm overthinking this but the academic theory seems disconnected from the reality of trying to navigate the NYS Department of Labor system and actually get benefits approved.
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Benjamin Carter
You're actually touching on an important distinction here. Unemployment can be both systematic and unsystematic risk depending on the context. Individual job loss (like yours) is typically unsystematic risk - it's specific to you and your situation. But during economic recessions when unemployment rates spike across entire industries or regions, it becomes systematic risk because it affects broad market segments. Your NYS Department of Labor claim being in adjudication is definitely an individual situation though. Have you tried checking your online account for any pending issues that might be causing the delay?
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Evelyn Martinez
•That makes so much sense! I was getting confused because my textbook kept using unemployment as a systematic risk example but my situation feels so personal. My NYS Department of Labor account doesn't show any issues - it just says 'claim under review' with no other details.
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Maya Lewis
Two weeks in adjudication is pretty normal for NYS Department of Labor, especially if this is your first claim or if there's anything unusual about your work history. The system automatically flags certain situations for manual review. You should definitely keep filing your weekly claims even while it's under review - that's really important. If you need to speak with someone about the delay, I had luck using Claimyr.com to get through to an actual NYS Department of Labor agent. They have a video demo at https://youtu.be/qyftW-mnTNI that shows how it works. Way easier than trying to call directly and getting busy signals all day.
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Isaac Wright
•Never heard of that service but honestly anything is better than sitting on hold for hours just to get disconnected
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Lucy Taylor
wait are you saying unemployment is NOT systematic risk?? my econ professor said it was because when unemployment goes up it affects the whole economy and stock markets crash and stuff. now im confused about my exam next week
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Benjamin Carter
•It can be both! Individual unemployment (one person losing their job) = unsystematic. Mass unemployment during recessions = systematic. The key is whether it affects just one company/person or the broader economy.
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Connor Murphy
From a personal finance perspective, unemployment is definitely systematic risk for your household budget regardless of what the textbooks say. When you lose your job, it affects everything - your ability to pay bills, your credit score if you miss payments, your retirement savings if you have to withdraw early. The fact that NYS Department of Labor benefits only replace a fraction of your income makes it even more systematic to your personal financial system.
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Evelyn Martinez
•This is exactly what I was thinking! The academic definition feels really disconnected from what actually happens when you're unemployed.
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KhalilStar
The NYS Department of Labor system is so frustrating. I've been waiting three weeks for my adjudication to clear and every time I call they just say 'it's being reviewed' with no timeline. At this point I don't care about risk categories, I just want my benefits approved so I can pay rent!
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