What can act as a buffer against unemployment - NYS Department of Labor benefits question
Just curious what people think acts as the best buffer when you're facing potential unemployment? I've been at my current job for 2 years but the company's been talking about layoffs. I have some savings but wondering if there are other things I should be thinking about. Like how much can you actually get from NYS Department of Labor unemployment benefits? Is it worth looking into now or should I wait until something actually happens? Anyone have experience with this kind of planning?
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Mateo Martinez
Emergency fund is definitely your best first line of defense. But for NYS Department of Labor benefits, you can get up to $504 per week maximum right now, though most people get less depending on their previous earnings. The benefit calculator on the NYS Department of Labor website can give you an estimate. You should also know that you can't apply until you're actually unemployed - no pre-filing allowed.
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Nia Davis
•Thanks! I'll check out that calculator. Do you know how long it typically takes to get approved once you file?
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QuantumQueen
Besides emergency savings and unemployment benefits, consider: health insurance continuation (COBRA), networking within your industry, keeping your resume updated, and maybe picking up some freelance skills. Also if you do get laid off, make sure to file your NYS Department of Labor claim immediately - there's usually a waiting week before benefits start.
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Aisha Rahman
•This is solid advice. I waited like 3 weeks to file when I got laid off last year and really regretted it. The whole adjudication process took forever too.
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Ethan Wilson
honestly the unemployment system is such a mess, i wouldn't count on it as any kind of reliable buffer... my claim got stuck in adjudication for 6 weeks last time and nobody at NYS Department of Labor could tell me why
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Yuki Sato
•That's frustrating but not typical. Most straightforward claims get processed within 2-3 weeks. If you're having trouble reaching someone at NYS Department of Labor about claim issues, I had success using Claimyr (claimyr.com) - they help you get through to an actual agent. There's a video demo at https://youtu.be/qyftW-mnTNI that shows how it works.
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Carmen Flores
just echoing what others said about emergency fund being most important... unemployment benefits help but they're not gonna replace your full salary
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Andre Dubois
One thing nobody mentioned - if your company offers severance packages during layoffs, that can be a huge buffer too. Sometimes they'll give you a few weeks or even months of pay. But make sure you understand how that affects your unemployment claim timing with NYS Department of Labor because there are rules about when you can start collecting if you get severance.
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Nia Davis
•Good point about severance! I'll have to check what our employee handbook says about that.
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