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March 6, 2012. Briefing on
Mayor Bloomberg's Preliminary FY 2013 New York City Budget.
Unemployment remains very high in this historically weak "recovery" in NYC, as
across the country, and considerable hardships persist. In addition, NYS budget
choices and pressures continue to squeeze NYC.
The Mayor's budget can only be described as austere: although needs have grown
in the wake of the recession, NYC spending on human services funding
has fallen by 10 percent. Income concentration has resumed,
underscoring the need for progressive tax reform.
NYC's business tax expenditures have risen sharply;
addressing several tax inequities could provide tax relief where most needed and
strengthen the revenue base.
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.
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
>>
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.
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.
Release (Brooklyn Chamber) >>
Report >>
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.
February 9, 2010. Briefing on Mayor Bloomberg's
Preliminary FY 2011 New York City Budget.
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 >>
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.
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.
The Impact of the
Economic Crisis on the Bronx Workforce. A presentation made by James Parrott
to the Bronx Borough Board.
December 22, 2008. Low Wages, No Bargain.
The outlook for this holiday shopping season is bleak. Despite more shoppers in
the stores, looking for steep discounts, profits are down. And corporate owners
aren’t the only ones getting hurt. The retail sector has long been an important
part of the local economy - and is more critical than ever given the ongoing
retrenchment of the financial sector. But jobs in retail too often fail support
the American dream, as shown by demographic information about retail workers in
the city's five boroughs.
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.
September 22, 2008.
The End
of Wall Street as We Know It.
By James Parrott, FPI's deputy director and chief economist, who writes
regularly for Gotham Gazette's
Economy section.
September 12, 2008.
Brooklyn Labor Market Review.
Commissioned by the Brooklyn Chamber of Commerce, this review finds that
Brooklyn will experience a weaker labor market, and slower wage and income
growth in 2008 and through the first half of 2009. However - attesting to the
diversity and resiliency of Brooklyn's economic base - the borough's job decline
will be far less than New York City's, just as in the previous slowdown of
2001-03.
August 26, 2008. New York has the highest
poverty rate of all northern states. No progress on poverty and family
incomes since the 2001 recession. Fewer New Yorkers are now uninsured but
2.5 million still lack health insurance. FPI's look at new Census data for
New York. Includes figures for larger counties, cities and towns,
as well as New York's standing among the 50 states.
May 2, 2008. Testimony
on the The Economic Situation of New York City's Low- and Moderate-Income
Households. Presented by chief economist James Parrott to the Rent
Guidelines Board. A picture of a shallow recovery, high housing cost burdens and
a shrinking middle class - plus a local economy in recession.
May 1, 2008.
How Will the
Economic Downturn Affect New York City’s Nonprofit Sector? As public funds
and private donations come under strain, and uncertainty clouds the horizon, New
York's nonprofits can respond not only by cutting costs, but also by presenting
cogent facts about the impact of recession on society. Presented by chief
economist James Parrott
at 2008 Nonprofit Day: Proactive Responses to the Economic Downturn, for
Manhattan, Bronx & Westchester. Sponsored by the Nonprofit Connection and Citi
Foundation. Brochure. Additional presentations
were given in Queens (May 7)
and Brooklyn (May 14).
April 15, 2008.
City Could
Raise Revenues and Level Playing Field for Business. FPI examines the
business tax treatment of "carried interest" earned by private equity fund and
hedge fund managers, and finds that closing the carried interest loophole could
raise $160-$225 million in new revenue for New York City - while leveling the
playing field for New York businesses.
Press release,
full report.
February 14, 2008.
Testimony on the Cost of Affordable Housing Construction in New York City.
Presented by FPI chief economist James Parrott to the Assembly Committee on
Housing. Significant fiscal costs arise from the rampant practice
in affordable housing construction of illegally misclassifying workers as
independent contractors or off the books. Also, paying prevailing wage can
actually decrease costs, by attracting more productive workers.
December 5, 2007.
Building
Up New York, Tearing Down Job Quality: Taxpayer Impact of Worsening Employment
Practices in the New York City Construction Industry.
Workers, taxpayers and honest employers pay the price - $489 million in
2005 and are likely to reach $557 million in 2008 - as construction employment
practices deteriorate in New York City. FPI's new report
looks at the
50,000 construction workers (one in four) employed
off the books or as so-called independent contractors - at substantial cost to
themselves and to taxpayers in general.
June 21, 2007.
Income
Numbers Show a Changing City by James Parrott, who writes monthly for Gotham
Gazette's
Economy
section.
April 15, 2007.
The Underground
Economy in New York City's Affordable Housing Construction Industry.
This examination of the affordable housing construction industry
reveals evidence of a huge underground economy in which thousands of workers are
paid off the books or misclassified as independent contractors. The results
include widespread employer evasion of payroll taxes and social insurance
premiums, and the undercutting of wage and benefit standards.
Press release
here. (Please
note the April 15 version of the report contained typographical errors in Tables
4 and 7. In the version now available, these tables have been corrected.)
February 13, 2007.
More Than a Link in the Food Chain: A Study of the Citywide Economic Impact of
Food Manufacturing in New York City. In an effort to understand the impact
of food manufacturing on other sectors in the NYC economy, the Mayor's Office of
Industrial and Manufacturing Businesses commissioned the New York Industrial
Retention Network (NYIRN) to study the sector; NYIRN enlisted FPI to conduct the
formal economic impact analysis.
October 17, 2006.
Increasing
access to food stamps would boost the New York City Economy.
Currently, the flow of federal food stamps into New York City - about $1.4
billion annually to nearly 1.1 million people at an average benefit of $110 per
person per month - supports 9,600 jobs and $850 million of annual economic activity. If access to the program were expanded so that all those eligible were
participating, food stamp spending would increase by $355 million, creating
2,300 more jobs and $210 million in additional economic activity each year,
pushing the economic impact of food stamps well over the billion dollar mark.
April 2006.
The New York City
Construction Labor Market (PDF). This labor market profile was prepared by
the Fiscal Policy Institute for the NYC Employment and Training Coalition and
NYC Workforce Investment Board. Among the findings: New York City construction
employment, now about 250,000 workers, is likely to expand considerably over the
next five years. Construction workers residing in the city are overwhelmingly
male, and nearly 63 percent of construction workers are non-white. They earn a
median wage of $14.90.
March 9, 2006. Rebuilding Ground Zero:
Status of the World Trade Center Site Plan (PDF). Testimony presented by
David Dyssegaard Kallick, FPI Senior Fellow and Coordinator of the Labor
Community Advocacy Network to Rebuild New York (LCAN) to the New York City
Council's Committee on Lower Manhattan Redevelopment.
February 9, 2006.
New York City
2006 Budget and Economic Outlook. Presentation by FPI
Deputy Director and Chief Economist James Parrott.
June 6, 2005.
Who foots the bill for $6-billion
rail job? By FPI Senior Fellow David Dyssegaard Kallick.
May 17, 2005.
Taking Away the Ladder
of Opportunity: Hotel Conversions and the Threat Posed to New York City's
Tourism Jobs and Economic Diversity.
May 2, 2005.
The Tentative
Recovery is Still a Long Way from Restoring Jobs, Wages and Incomes to
Pre-Recession Levels for New York City's Low- and Moderate-Income Households.
Testimony by James Parrott, FPI Chief Economist, before the New York City Rent
Guidelines Board.
February 2, 2005.
New York City's
2005-2006 Budget Outlook. Includes analyses of the Mayor's January
27, 2005 Financial Plan, the MTA Operating Budget and 2005-2009 Capital
Program, and the fiscal implications of the Far West Side Proposal.
(MSWORD)
February 2, 2005.
Keeping New York's Transit System
Safe and On-Track for the Future: the MTA Operating and Capital
Budgets. An Analysis Based on Governor Pataki's 2005-06 Executive
Budget.
(PDF)
January 19, 2005.
West Side pyramid scheme. An
op ed in the
New York Daily News by James Parrott, FPI Chief Economist, on the
financing of far West Side development. (MSWORD)
January 18, 2005. Testimony submitted to the
Empire State Development Corporation on the Proposed Financing for the
New York Sports and Convention Center. (MSWORD)
December 15, 2004.
Testimony before the NYC
Council Committee on Finance regarding the Proposed Financing for the
Hudson Yards Project East of 11th Avenue. (MSWORD)
June 3, 2004.
Testimony before the NYC
Council Economic Development Committee, "How Will the Proposed West Side
Stadium Complex Impact Our City?" (MSWORD)
June 2003.
The Construction Labor Market in New York
City: Trends and Issues. (PDF)
May 22, 2003.
New York City's
Unemployment Crisis and the Need for an Emergency Job Creation Program. (PDF)
Testimony presented by FPI Deputy Director and Chief Economist James
Parrott to the Assembly Committee on Cities. Click
here for Newsday story, "Expert: Jobs Are the Problem." (PDF)
April 2003.
Security
Guards & Building Services Occupations in New York City: Trends and
Issues. (PDF)
March 13, 2003.
Revitalize New York by Putting
People to Work: A Jobs-Based Strategy for Economic Diversification and
High-Road Growth. (PDF)
This new 30-page report prepared by
FPI for the Labor Community Advocacy Network to Revitalize New York (LCAN)
makes the case for a $1 billion Liberty Jobs Program to counteract the
massive job losses that New York City has experienced as a result of the
September 11 attacks on the World Trade Center.
Press release.
February 12, 2003.
Meeting New York City's
Fiscal and Economic Challenges in 2003 (PowerPoint). Released
at FPI's annual budget briefing, this analysis is based on
Mayor Bloomberg's January 28 Financial Plan for FY 2003-2007.
January 27, 2003.
Time to get rid of the LMDC.
An op ed in the New York Daily News by David Dyssegaard Kallick.
January 17, 2003.
Management and Accountability Issues
Pertaining to the Metropolitan Transportation Authority's New York City
Transit Operations. Testimony by Matthew T. Mitchell before the
Transportation Committee of the Council of the City of New York.
December 3, 2002.
Tale of Two Recessions: The Current
Slowdown in New York City Compared to the Early 1990s. By James
Parrott and Oliver Cooke. (PDF)
November 25, 2002. New York
City 2003-04 Budget Outlook. Based on Mayor Bloomberg's November 14, 2002, Financial
Plan Update.
Why Did New York Workers Lose
Ground in the 1990s? FPI Senior Economist Moshe Adler refutes the
assertion that the increase in poverty and the decrease in median family
income in New York City during the 1990s were due to immigration.
Regional Labor Review, Fall 2002. (PDF)
September 19, 2002.
The Building Service Industry
and Displaced Building Service Workers. An analysis of the
building service industry in NYC and the impact
of building-service worker displacement
on taxpayers and the low and moderate wage labor markets. Presented by
FPI Deputy Director and Chief Economist James Parrott to the NYC City
Council's Contracts Committee.
September 18, 2002.
Keeping Mass Transit
on Track. This issue of
Fiscal Policy Note$
reviews the importance of the mass transit system to the NYC metropolitan area economy, and the importance of
restoring NYS and NYC financial support for the MTA to earlier levels.
September 1, 2002.
Learning from the '90s: How Poor
Public Choices Contributed to Income Erosion in New York City. This
report uses
the latest economic and census data to examine the role of immigration,
government policies and other factors in explaining why the economic
expansion of the 1990s did not raise the income of average workers in
New York City. Also available: one page summary of this
report, press release.
August 26, 2002.
Sectoral Approaches to Economic Development
Research in New York City: Key Themes and Issues. This report was
prepared by FPI staff on the basis of discussions at the June 25,
2002, roundtable discussion on sectoral research hosted by the Fiscal
Policy Institute, the Consortium for Worker Education and the CUNY
Graduate Center.
August 19, 2002.
Labor Market Trends and issues in the New
York City Non-Profit Social Services Sector.
July 29, 2002.
Labor Market Trends and Issues in
the New York City Securities Industry.
March 8, 2002. The Employment Impact of
the September 11 World Trade Center Attacks: Updated Estimates based on the Benchmarked
Employment Data.
February 25, 2002.
An Exploration of
the City's Role in Lower Manhattan Redevelopment. Testimony by James
A. Parrott before the City Council of the City of New York Economic
Development Committee and the Select Committee on Lower Manhattan
Redevelopment.
December 6, 2001. Economic Impact of the September 11 Terrorist Attacks and Strategies for
Economic Rebirth and Resurgence.
Testimony by James
A. Parrott, FPI Chief Economist, before the New York State Assembly
Committee on Economic Development and Committee on Small Business.
November 5, 2001. World Trade Center Job Impacts Take a Heavy
Toll on Low-Wage Workers: Occupational and Wage Implications of Job Losses Related to the
September 11 World Trade Center Attack.
September 28, 2001.
Economic Impact of the September 11
World Trade Center Attack.
Preliminary Report.
January 8, 2001.
New York Stock Exchange Subsidy Deal Testimony at the Urban
Development Corporation's public hearing on its proposal to take several
buildings by eminent domain to assemble a site for the construction of a
new trading facility for the New York Stock Exchange. Testimony by James Parrott
and testimony by Alice Meaker of Good
Jobs New York.
July 25, 2000.
Testimony
before the City Council of the City of New York Labor Committee Hearing on Living Wages.
By
James A. Parrott.
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