May 20, 2010.  New York City: Economic and Budget Challenges. While Wall Street may have recovered, the average New York worker is still mired in the Great Recession. New York like most states has severe budget problems and not enough Federal aid; moreover, state and local government budget cuts will harm the local economy and slow the national recovery. In this context, the Mayor's NYC budget proposal punishes workers and the poor but does not ask the well-off or Wall Street to share the burden. This presentation includes commentary on the state as well as the city budget budget situations.

May 10, 2010.  Is the recession over in New York? Despite the fact that job numbers are up, unemployment is down, and gross domestic product has increased for three quarters - by the measures that matter, this recession has been worse for New York workers. Wages fell more sharply in this recession than in the two previous. Joblessness has more than doubled. At this point, 400,000 jobs are needed to return NYC unemployment to pre-recession levels. Also see Severe Recession Hangs on in Much of the City in Gotham Gazette's Economy section.

March 1, 2010.  The Impact of the American Recovery and Reinvestment Act on New York City. Testimony presented by James Parrott before the New York City Council General Welfare Committee.

These budget briefings from FPI have updated data on employment and unemployment during the recession:

• February 9, 2010.  Briefing on Mayor Bloomberg's Preliminary FY 2011 New York City Budget.

• February 3, 2010.  New York State's Economic and Fiscal Outlook for 2010-2011.

December 21, 2009.  New York City in the Great Recession: Divergent Fates by Neighborhood and Race and Ethnicity. Current unemployment rates at a neighborhood level for New York City, and estimates of the unemployment rate by race/ethnicity and gender: the numbers show huge variations from neighborhood to neighborhood and also within neighborhoods. For example, while the overall unemployment rate in New York City was 10.1 percent in the third quarter of 2009, unemployment was 5.1 percent on Manhattan's Upper East and West Sides in the third quarter, compared to 15.7 percent in the South and Central Bronx and 19.2 percent in Brooklyn's East New York neighborhood. More, including an interactive map >>

December 21, 2009.  Job Creation Bills to be on Washington's Agenda in 2010. By James Parrott, FPI's deputy director and chief economist, who writes regularly for Gotham Gazette's Economy section.

December 17, 2009.  Recovery Act Keeping Roughly 419,000 New Yorkers Out of Poverty. New estimates released today by the Center on Budget and Policy Priorities (CBPP) are based on seven provisions of the American Recovery and Reinvestment Act (ARRA) that directly affect individuals: three tax credits for working families, two unemployment insurance expansions, an increase in food stamps, and a one-time payment for retirees, veterans, and people with disabilities. Not only is the Recovery Act is creating jobs, helping close state and local budget gaps, and boosting the broader economy, it is also softening the recession's impact on poverty by directly lifting family incomes. Press release with link to study >>

November 19, 2009.  State of Working New York City 2009: A Tale of Two Recessions. This report from FPI is an examination of the impact of the country's "Great Recession" on the New York City economy. The data show the shallowness of the previous expansion from 2003 to 2007 before the onset of the Great Recession, and recession-related job losses and rising economic insecurities. The report also explores in detail the character and extent of unemployment in New York City - and finds that despite Wall Street's faster-than-expected recovery, the city's Main Street economy continues to struggle with high unemployment and widespread economic insecurity. More >>

September 24, 2009.  Brooklyn Labor Market Review. Commissioned by the Brooklyn Chamber of Commerce, this review finds that the devastating blow dealt to New York City by the current recession has been less painful to Brooklyn. American Recovery and Reinvestment Act (ARRA) dollars are having an impact in the borough, and Brooklyn has experienced job growth in some sectors in spite of losses citywide.

September 16, 2009.  State of Working New York 2009: Unemployment and Economic Insecurity in the Great Recession. This report is the latest of FPI's biennial examinations of the conditions facing workers and working families in New York State, released as the country hobbles through the worst economic crisis - the steepest economic drop and the longest period of job loss - since the 1930s. We are living through what's been justly termed "The Great Recession." The report outlines significant ways in which the federal and state governments can support recovery. More >>

March 13, 2009.  The Impact of the Economic Crisis on Nonprofits in the Bronx. A presentation by James Parrott at Navigating the Fiscal Crisis: A Forum for Non-Profits, sponsored by the Bronx Forum, a partnership of the Bronx Borough President's Office, Hostos Community College, and Jewish Community Relations Council of NY/CAUSE-NY.

February 26, 2009. We're All in This Together: Federal, State, and Local Governments All Have a Part to Play in the Economic Recovery. The National Association of County Administrators asked FPI's Frank Mauro and James Parrott to write the lead article for The Journal of County Administration, December 2008/February 2009. The article stresses that while the $787 billion American Recovery and Reinvestment Act provides a significant lifeline to the states at a critical point in time, it will not completely eliminate the need for some painful budget balancing actions by state and local governments. The key challenge for the states is finding the mix of spending cuts and/or tax increases that will do the least harm to the state's economy. PDF of journal issue.

January 22, 2009.  Record Surge in NYS Unemployment in December: Lagging Benefits Expose Holes in Safety Net for Jobless NYers. Data released today by the New York State Department of Labor  reveal that the state's unemployment rate jumped to 7.0 percent in December (the highest figure recorded in the state since 1994) from November's revised level of 6.0 percent. Over 671,000 New Yorkers were unemployed in December, an increase of 229,000 (52 percent) from December of 2007. The national recession began in December 2007. Both the one-month unemployment increase of 1.0 percent and the 229,000 12-month increase in the unemployed count are all-time highs in the 32-year official Labor Department series.

January 20, 2009.  The Obama Stimulus: An $825 Billion First Step. By James Parrott, FPI's deputy director and chief economist, who writes regularly for Gotham Gazette's Economy section.

December 11, 2008.  New York City Unemployment in 2009: The Emerging Crisis. While New York City lagged the national economy entering the downturn, the recession is clearly here in full force, and labor market conditions are likely to deteriorate rapidly in the months ahead. The number of unemployed New York City residents could rise by 120,000 over the next year, escalating the hardships felt by tens of thousands of New York families and straining the social safety net.

August 28, 2008.  Job losses rise, straining state unemployment insurance: Unemployment up by 56,000 in the first half of 2008; In 25 counties, increase is over 20 percent. New York's projected budget gaps have received considerable attention in Albany. The state's growing unemployment is the other crisis to which Albany must also turn its attention. Press release, full report.