How much unemployment benefits will I get in New York?
New York is in the top 20 for the maximum amount of unemployment benefits paid out with up to 99 weeks of benefits are available under covid-19 relief.
New York is preparing to reopen before the end of May to get the state back to work and rebuild the economy after it was decimated by the pandemic lockdowns. There has already been good news with the state reporting an eighty-six percent drop in first-time unemployment claims in March.
Despite the drop in initial claims, the state’s unemployment rate of 8.5 percent is still higher than the national average which crept back up in the most recent US Department of Labor jobs report. So for those that need to claim jobless aid how much can they expect to get?
How much does New York pay in unemployment benefits?
Out of work compensation amounts in New York are based on your earnings. Those who make around $52,000 or more can claim the maximum weekly jobless assistance of $504. With the onset of the covid-19 induced economic crisis, lawmakers in Washington created federal pandemic unemployment programs to boost unemployment payments.
Currently, all New Yorkers who claim unemployment benefits from state or federal programs can receive an additional $300 per week. So a New Yorker receiving full benefits would receive $804 weekly in compensation. The extra money each week will end in September if no further extension is passed by Congress. To calculate how much you could expect to receive the New York Department of Labor provides a weekly benefit rate estimator.
New Yorkers can also receive partial unemployment benefits if they meet certain requirements. New York made changes to how part-time work impacts unemployment benefits in January. The new partial unemployment system uses an “hours-based” approach. Under the new rules, you can work up to 7 days per week without losing full unemployment benefits for that week. If you work 30 hours or fewer and earn $504 or less in gross pay excluding earnings from self-employment, your benefits will be reduced in increments based on your total hours of work for the week.
How long do unemployment benefits last in New York?
New York normally provides up to 26 weeks of unemployment assistance, but due to the high unemployment rate in the state, benefits were extended for an additional 20 weeks. Anyone who filed an initial claim after September 7, 2020 will be eligible for 46 weeks of benefits. However, should the economic situation improve, extended benefits could be reduced thus limiting the total number of weeks that can be claimed.
Those who had an initial claim before 31 August will still be able to take advantage of the federal programs set up to extend regular state unemployment assistance and for those that normally weren’t eligible to claim benefits for the loss of work. Once a person has exhausted those weeks, they would be eligible to take advantage of federal benefits established under the CARES Act and twice extended since. Most recently the American Rescue Plan will keep benefits going until early September giving long-term out of work New Yorkers a total of 99 weeks of benefits.