Unemployment Benefits to Rise in 2014
Unemployment benefits are going up next year for those New Yorkers who are out of work. The minimum weekly benefit for those out of work will increase from 64-dollars to 100-dollars. And the maximum benefit will increase to 420 dollars from 405 dollars. Beth Cordello, of the law group Underberg and Kessler, says this is the first time unemployment benefits are indexed to, hopefully, keep up with inflation....
"This is badly needed. I think in new york the percentage of wage replacement than an unemployment represents is typically 30-percent of what the person's paycheck was and I think that ranks as worst in the country," she says.
Unemployment rates were last changed in since 1999. Benefit changes take effect next year in October.