October 11, 2011.  New group calls for boosting New York mass transit manufacturing: enhanced MTA investments could create good jobs and bolster New York's recovery. While unemployment news remains bleak across the state and country, a recently released white paper, Building New York's Future: Creating Jobs and Business Opportunities Through Mass Transit Investments points to the benefits of a broad transit manufacturing strategy. A new group - Building New York's Future - has formed with the mission of developing and implementing a mass-transit related economic development strategy, building political commitment to the strategy across the state, and promoting adequate funding for the MTA and all of New York State's transit authorities. Press release >> White paper >>

October 5, 2011.  Bloomberg Administration Releases Flawed Living Wage Study. Working together, the National Employment Law Project, FPI, and Good Jobs New York find that the study released today ignores basic flaws flagged months ago, flaws in both factual assumptions and research methodologies. And, the study's relevance is questionable, since it fails to account for changes to the living wage proposal announced this month, which clarify that the proposal will not cover the most of the project types comprising the bulk of the study. The study - believed to be the most expensive taxpayer-funded wage study in U.S. history - is a lost opportunity and poor use of city resources. Press release >>  Initial assessment, May 12 >>

October 3, 2011.  Immigrant Small Businesses in New York City. New numbers from FPI's Immigration Research Institute show that immigrants make up almost half of all small business owners in New York City.  And, immigrants in the labor force are somewhat more likely than U.S.-born workers to own small businesses. Immigrant small business owners are an extremely diverse group, with no single country of origin dominating; in fact, the top ten groups together still make up just 45 percent of the total number of immigrant small business owners. The businesses immigrants own range across all sectors of the economy. More >>

September 27, 2011.  Building New York's Future: Creating Jobs and Business Opportunities Through Mass Transit Investments. This white paper finds that as New York comes out of the most severe economic downturn since the Great Depression, the state can and should pursue a mass transit-related manufacturing strategy, positioning itself as a leader in sustainable transportation while creating good, middle class jobs for New Yorkers. Working toward broad political commitment and securing adequate funding for New York's transit authorities' capital and operating budgets, and for national mass transit infrastructure, are necessary complements.

September 26, 2011.  Brooklyn Labor Market Review - Fall 2011. Prepared by FPI  for the Brooklyn Chamber of Commerce, the latest issue of the BLMR finds that Brooklyn led all boroughs in job creation and in new firm creation over the last decade. During this period, Brooklyn added 50,000 jobs while the while New York City as a whole lost 16,000. The borough added not only hundreds of restaurants and retail shops but also health care, business and professional service companies.

September 22, 2011.  NYC Labor Market Challenges Facing Older Workers. FPI's James A. Parrott delivered testimony before the New York City Council Committee on Aging detailing the following points: Unemployment for older workers has continued to increase during the past year and a half, despite the recovery. And many older workers who are still employed have seen their hours, and their weekly pay, reduced. For New York City workers ages 55-64, both unemployment and under-employment are sharply higher now than before the recession began, and higher than at the "trough" of the recession: unemployment rose from 6.0 percent at the end of 2009 to 6.4 percent for the first half of 2011, underemployment rose from 10.3 percent to 12.5 percent, and the employment rate declined from 60.1 to 58.7 percent. For workers 65 and over, unemployment rose from a very low 2.8 percent to 4.1 percent, and the employment rate fell by a percentage point.

September 18, 2011.  Budget Busters. A letter by James Parrott, New York Post.

September 14, 2011.  Can Obama's Plan Erase New York's Jobs Deficit? By James Parrott, FPI's deputy director and chief economist, who writes regularly for Gotham Gazette's Economy section.

August 31, 2011.  One in seven New Yorkers out of work two years into "recovery." FPI's 2011 annual edition of the State of Working New York documents New York's continuing unemployment crisis in the context of the weak national economic recovery. Two years into the "recovery" from the Great Recession of 2008-2009, one in seven New York workers is unemployed, under-employed or has given up looking for work - a total of 1.4 million New Yorkers. Long-term unemployment is at record levels. Half of the unemployed have been out of work for more than six months, and 29 percent have been jobless for a year or more. Press release and report >>

July 20, 2011.  Scant recovery for workers in NYC: Young workers see gains, but unemployment worsens for older workers. This report, the latest on "The State of Working NYC," finds several crosscurrents in the first year after the job market bottomed out in NYC. Young workers (ages 16-21 and 22-27) gained in the recovery, contrary to the national trend of decreasing employment rates for these age groups. Unfortunately, older workers too bucked the trend: nationally they made small gains, but in NYC they fared worst of all age groups. While NYC's job growth outpaced the nation's early in the recovery, in recent months the city's job growth has slowed and now lags the nation. Two years after the national recession officially ended, New York still faces soberingly high unemployment and fundamental economic and job market challenges. Press release >> Report >>

July 5, 2011.  Comments on USDA's proposed Supplemental Nutrition Assistance Program (SNAP) regulations implementing the eligibility, certification and employment and training provisions of the 2008 Farm Bill. In general, USDA's overall approach to the Food, Conservation and Energy Act (FCEA) provisions is laudable. However, these comments outline several important changes should be made in the final regulations. Without these changes, the regulations would fall far short of what the legislation intended and would miss important opportunities to improve the program for the millions of Americans who rely upon its help to meet their basic food needs.

June 24, 2011.  Governor Cuomo's Fiscal Policies: How Will New York’s Economy Be Affected? Governor Cuomo won a great political victory in getting his 2011-2012 budget adopted on time and with very few changes. And it now looks like the Legislature will be enacting - again with very few changes - the very tight cap on property tax levies that the Governor spelled out during his 2010 campaign. This brief examines how the New York economy fared, compared to other states, under the more balanced fiscal policies of recent years. But dramatic cuts in spending can easily derail fragile recoveries; it remains to be seen whether the state will do as well under Governor Cuomo's direction.

June 22, 2011.  Proposed New York property tax cap is much more restrictive than the Massachusetts cap after which it is supposedly modeled. No lawmaker or taxpayer should be one bit reassured by the Massachusetts experience with a tax cap. New analysis from FPI's Frank Mauro shows what a New York-style tax cap would mean if it had been in effect in Massachusetts over the last decades. Property tax revenues would be less than half what they are today, with devastating implications for the entire array of locally-funded public services.

June 22, 2011.  Brooklyn Labor Market Review - Spring 2011. Prepared by FPI  for the Brooklyn Chamber of Commerce, the latest issue of the BLMR looks at immigrant entrepreneurs in Brooklyn by sector. The report finds that there are nearly 14,500 Brooklyn immigrant small businesses across a range of sectors from construction to restaurants, grocery stores, child care services and doctors' offices.

June 20, 2011.  Budget Cuts Could Strangle Sputtering Recovery. By James Parrott, FPI's deputy director and chief economist, who writes regularly for Gotham Gazette's Economy section.

June 15, 2011.  Proposed Cap Does Not Address New York's Property Tax "Problem." A deeper look at the data used to support the proposed cap shows that New York’s real tax problem is that hundreds of thousands of low, moderate and middle income families are already paying inordinate shares of their income in property taxes on their primary residences. Only a middle-class Circuit Breaker can provide effective relief for these families in a targeted and cost-efficient manner. Analysis >> Omnibus Consortium release >>

June 10, 2011.  Incorrect diagnosis of New York's property tax "problem" will lead to a remedy that is likely to do more harm than good. Massachusetts' experience with Proposition 2 1/2 does not support the claim that a cap of the type proposed by Governor Cuomo is workable let alone desirable. If a hard cap of the lesser of 2 percent or the rate of inflation, with no overrides, had been in effect in Massachusetts since 1981-82, that state's property tax revenue would be about 60 percent less than it currently is. The Governor's proposed cap would undermine the quality of the entire array of locally funded public services while providing very little relief to those homeowners who are most overburdened by real property taxes. New York can learn from the Massachusetts experience but not if it ignores the reality of that experience. Analysis >>

June 6, 2011.  Testimony at the New York City Council Committee on Finance Hearing on the FY 2012 Executive Budget. FPI's James A. Parrott delivered testimony detailing the following points: Against the backdrop of an outlook for a very gradual and drawn-out recovery during which unemployment and economic adversity remain elevated, the Mayor's Executive Budget proposal contains several harmful budget cuts that will curtail vital services in many critical areas. The City needs a more balanced approach to closing large budget gaps; this approach should reduce outlays on contracting out and find ways to enhance revenues.

May 23, 2011.  New York City Revenue and Cost Savings Options. This one-pager makes the case that NYC should reform its Personal Income Tax (PIT) structure to add brackets to the top and to take low-income households off the income tax rolls. Four more revenue options and three cost-cutting measures are also proposed.

May 12, 2011.  An Assessment of Methods and Findings of the New York City Economic Development Corporation's Living Wage Study. A joint effort of National Employment Law Project, FPI, and Good Jobs New York, this is an initial assessment of the executive summary of the study released May 9, The Economic Impact on New York City of Proposed Living Wage Mandate: Key Findings. The assessment finds that even the limited explanation presented in the executive summary reveals a series of fundamental errors in methodology and analysis. In particular, both real estate market impacts and labor market impacts are improperly assessed, rendering the study an inaccurate and unreliable guide for policymakers. Press release >>  Brief >>

May 11, 2011.  Wrenching Choices for New York City's Working Families: Child Care Funding Slashed as Need Grows. Right now, the need for subsidized child care among low-income families is five times as great as what the city funds. The Executive Budget will cut child care funding considerably below the annual average level for 2008-2010, and further shifts $13 million in costs to low-income families in the form of co-pays. This brief details the impact on working families and child care providers - noting that single parents, whose households include 60 percent of the children in low-income families, will be in an especially precarious position.

May 9, 2011.  Issue Spotlight: Pensions. Frank Mauro was part of a forum on public sector pensions. The Capitol.

May 5, 2011.  Top ten reasons a living wage makes sense for New York City. Among the reasons to support an expanded living wage: the rising educational attainment yet falling real wages of New York City’s low-wage workers, and a sharp rise over the past two decades in the number of working poor. The City Council will hold a hearing on May 12 on legislation to extend the city’s living wage law to cover large subsidized economic development projects. Press release >> Brief >>

April 12, 2011.  SNAP Benefits in Paul Ryan's Budget Plan: The Impact on New York's Counties. A new report from the Center on Budget and Policy Priorities (CBPP) points out that House Budget Committee Chairman Paul Ryan's budget plan would cut the SNAP program (formerly known as food stamps) by $127 billion - almost 20 percent - over the next ten years (2012-2021), $8.78 billion in New York alone. FPI has estimated the impact on New York City and each of the counties outside New York City.

March 25, 2011.  New York State's economic rebound is leading the nation. New data from the U.S. Commerce Department's Bureau of Economic Analysis show that New York State led all states in 2010 in the growth in net earnings. New York grew fastest and second fastest in terms of net earnings and personal income respectively, well ahead of the national averages. The brief is part of the Numbers that Count series, in which FPI presents and analyzes new data on New York's economy.

March 23, 2011.  A Harder Struggle, Fewer Opportunities: The Impact of the Governor's Proposed Budget on Women, Children and Families. This report prepared for The New York Women's Foundation shows that the Executive Budget takes away from an array of vital programs that strengthen women's ability to support themselves and their families, and keep them healthy and safe. Obstacles are placed in the paths of women trying to improve their lives and those of their children. The proposed assembly and senate budgets move in the right direction by moderating some of the proposed spending reductions. The leaders should further moderate cuts while considering revenue actions to lessen the disproportionate reliance on spending cuts.

March 8, 2011.  An Overview of Job Quality and Discretionary Economic Development Subsidies in New York City. A brief from FPI, Good Jobs New York and the National Employment Law Project examines the low wages typically paid for many of the permanent jobs at city-subsidized economic development projects such as Bronx Gateway Mall, Fresh Direct and Yankee Stadium. An update of analysis originally conducted last May, the study finds that significant numbers of low-wage jobs are being created with New York City tax dollars, jobs for which starting pay is as low as the minimum wage and for which annual earnings often do not even break the $20,000 mark. Press release >> Full report >>

March 2, 2011.  Briefing on Mayor Bloomberg's Preliminary FY 2012 New York City Budget. Despite Wall Street's rebound, unemployment and hardship continue; at best, recovery will be very gradual. The revenue rebound does not make up for declining federal and state aid, particularly in education. Human services are being cut, while recent tax changes worsen the regressivity of the City's tax structure. The City should begin to address several tax inequities and strengthen its revenue base.

March 1, 2011.  Short Term Property Tax Relief and Long Term Tax Reform: An Omnibus Approach. Testimony of FPI's Frank Mauro at the  public hearing "Cap on Real Property Taxes" before the Assembly Standing Committees on Ways and Means, Education, Real Property Taxation, Local Government and Cities. A cap on real property taxes would not effectively protect those most in need of property tax relief, and would exacerbate inequities in our current system of public school finance. In the short run. a property tax circuit breaker provides effective and targeted relief. Over time, we should reform New York's state-local tax system by having the state gradually take responsibility for the financing of a greater share of the essential services that New York State performs through its local governments.

February 24, 2011.  Cuomo's austerity budget will kill N.Y. jobs: Why not tax the top 5% instead of slashing services? An op ed by Frank Mauro and James Parrott, New York Daily News.

February 16, 2011.  Testimony at the Joint Legislative Public Hearing on the 2011-2012 Executive Budget Proposal - Human Services. Submitted by Carolyn Boldiston, FPI's Senior Fiscal Policy Analyst. Includes: a review of New York State's recent public assistance caseload history, a review of New York's historical utilization of the federal Temporary Assistance for Needy Families (TANF) block grant, a review of the impact of the American Recovery and Reinvestment Act (ARRA) of February 2009 on TANF funding and spending in New York State, and recommendations for the 2011-2012 state fiscal year.

February 14, 2011. Balancing the New York State Budget 2011-2012. This presentation - by Frank Mauro of the Fiscal Policy Institute and Ron Deutsch of New Yorkers for Fiscal Fairness - was made at a budget briefing for legislators, staff and advocates. The briefing was sponsored by Growing Together NY, Strong Economy for All Coalition, AFL-CIO, AFSCME NY, ATU, CSEA, CWA District 1, NYSUT, PEF, SEIU Local 32BJ, TWU, and UFT.

February 14, 2011.  FPI responds to the Partnership report: Can New York Depend on a "Millionaire’s Tax" to Solve the Budget Crisis? The personal income tax (PIT) surcharge should be continued. It is not onerous, and it is offset by federal tax cuts. Moreover, unemployment is projected to stay above 7 percent until 2014; budget cuts worsen unemployment and the adversity experienced by many families in a weak economy. New York needs a balanced approach to balancing the budget, one that looks also at the revenue side, rather than relying too heavily on the cutting side. (This is a revised version of a brief originally published on February 10, 2010.)

February 8, 2011.  New York State's Economic and Fiscal Outlook for 2011-2012. The Fiscal Policy Institute's 21st annual budget briefing.

February 7, 2011.  Make Wall Street Pay. By James Parrott, New York Times. Part of "Room for Debate" - Will City Pensions Be Cut?

February 1, 2011.  Statement from the Fiscal Policy Institute on the proposed Executive Budget 2011-2012. The budget proposed today by the Governor places relies excessively on spending cuts, which increase unemployment and intensify hardships for those bearing the brunt of the recession. Meanwhile, a privileged group has profited tremendously from New York's economic growth over the past two decades, and from Wall Street's recent resurgence; the richest one percent of New Yorkers now receive 35 percent of all income in the state, while they pay a lower state and local tax burden than middle- and low-income state residents. Budget austerity will not put New Yorkers back to work.

February 1, 2011.  Who's Fudging What? A response to an editorial in the New York Post, which argued that New York's extreme income polarization is not a problem.

January 20, 2011. What do the new Census population numbers tell us about New York's economy? This data brief, a response to claims that the Census figures depict New York's economic decline, considers the Census population numbers in relation to other measures of New York State's relative economic performance over the past decade. The brief is first in a series presenting and analyzing new data on New York's economy.

January 18, 2011.  As Incomes Gap Widens, New York Grows Apart. By James Parrott, FPI's deputy director and chief economist, who writes regularly for Gotham Gazette's Economy section.

January 14, 2011.  Wall St. Wealthy Must Do Part: Budget Cuts Alone Won't Solve State's Problems. By James Parrott, The Chief-Leader.

January 10, 2011.  Brooklyn Labor Market Review. This study commissioned by the Brooklyn Chamber of Commerce shows that the borough was a leader citywide in job creation despite the ongoing recession. The diversity of Brooklyn's economy coupled with growth in healthcare, retail, food service, professional services and administrative sectors helped the borough remain stable in 2009 and gain jobs in 2010. Employment growth surpassed projections.

January 3, 2011.  Fiscal Reality: Practical options for New York's budget. An op ed by James Parrott, The Clarion. A balanced approach to balancing the state budget includes identifying additional revenues - not just cutting critical services - particularly at a time when need has been elevated by the lingering recession. Government spending is inextricably tied to prospects for economic recovery. Steep cuts will worsen unemployment.

January 2, 2011.  Across the state, socioeconomic disparities need to be reduced. An op ed by Frank Mauro, Albany Times Union. A measurable goal - say, "New York state should dramatically reduce the number of communities in the state that have child poverty rates in excess of 15 percent" - could effectively focus New York state's policies in a wide variety of areas, from economic development to the organization and financing of basic municipal services. Upstate New York cannot be economically dynamic unless its metropolitan areas are too; the upstate metropolitan areas cannot be economically vibrant if their central cities are allowed to languish.

 

For earlier FPI publications, please see the archives.