New York is seeing a noticeable rise in unemployment, with claims up more than 12% over last week, according to a new report from WalletHub.
The state ranked 9th worst overall for rising unemployment claims in the latest update of WalletHub’s States Where Unemployment Claims Are Increasing the Most.
Here’s how New York stacks up in the latest unemployment metrics:
- 11th in week-over-week increase
- 13th in increase vs. same week last year
- 6th in claims per 100,000 workers
- 27th in total 2025 claims vs. last year’s totals
WalletHub says claims in New York were 12.20% higher than the previous week and 9.81% higher than the same week in 2024.
What’s driving the trend?
Economists cited in the report say hiring has slowed across the country, with employers pulling back on new jobs while avoiding layoffs.
“Unemployment might begin to creep up as consumers cut back their spending,” said Daraius Irani, Chief Economist at Towson University. “We’re seeing signs of a slowdown that could ripple through the broader economy.”
Haiyong Liu, Chair of the Department of Finance and Economics at Texas State University, agreed the labor market is cooling but still holding steady. “Unemployment may slightly edge up, not spike,” he said.
What should workers do?
Experts suggest workers focus on financial stability during uncertain job market conditions:
- Pay off high-interest, variable-rate debt
- Consider CDs or short-term Treasury investments for emergency funds
- Look at inflation-protected options like TIPS
- Be sure to negotiate inflation-adjusted pay when job hunting=
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