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ANSWER: The effective date of layoff is technically the first date you are not employed. So that would be the day after your last day of actual employment, not just the last day you are paid.
Now I say technically because the USCIS usually looks at pay stubs to determine when a person is in lawful employment-based status; if the paystubs show you are still on the payroll and getting paid, the USCIS usually doesn't have any indication of the last date of actual employment. Of course, that assumes the employer doesn't provide a letter saying the contrary or the employer does not inform the USCIS.
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