Unemployment benefits in New York are increasing, providing workers with more support while they search for new employment opportunities.
The maximum weekly unemployment benefit jumps more than $350 from $504 to $869.
The increase comes after the state paid off a federal loan that had been draining the Unemployment Insurance (UI) Trust Fund.
Before the pandemic, the fund was nearly $2.5 billion in the black, but COVID-19 forced New York to borrow to continue paying weekly UI benefits. With the debt cleared, the state can now increase payments so they better reflect current wages and help workers cover living expenses.
“This historic increase will help more people make ends meet when they need it most and put money directly into the hands of those out of work through no fault of their own,” New York State Department of Labor Commissioner Roberta Reardon said.
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Estimate Weekly Payments
The amount each individual receives depends on their earnings during the base period, but many New York unemployment benefit recipients will see a noticeable increase in their weekly payments.
The New York Department of Labor offers an online tool to help estimate weekly unemployment insurance benefits.
The increase in unemployment benefits comes as the federal government shutdown leaves tens of thousands of New York federal employees without pay.
For more information on the unemployment insurance increase in New York or to calculate your new weekly benefits, visit the New York Department of Labor website.
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