New York State’s 2003-2004 Budget Outlook

September 26, 2002. PowerPoint presentation >>

New York State’s 2003-2004 Budget Outlook

September 26, 2002. Presentation in powerpoint.

New York Workers Lost Billions in Retirement Assets Due to Stock Market Decline

September 20, 2002. A new report from the Institute for America’s Future estimates that workers and retirees in New York lost $10.78 billion in 401(k) assets in 2001.  This report also assesses recent congressional action on retirement security issues. FPI co-released the report in New York.

The Building Service Industry and Displaced Building Service Workers

September 19, 2002. 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. Testimony >>

Keeping Mass Transit on Track

September 18, 2002. 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. Report >>

Pulling Apart: Poverty, Income Inequality, and Injustice in New York State

September 7, 2002. FPI Senior Economist Trudi Renwick made the keynote address at the Southern Tier Labor-Religion Coalition’s annual Solidarity Supper. Her remarks were based on FPI’s April release, Pulling Apart: New Studies Find Income Inequality in New York Worst of Any State.

State of Working New York 2002: A Weakened Economy

September 1, 2002:  This report provides the latest data on how New York state’s workers and their families are faring during the current recession. It also examines the progress made during the period of economic expansion that New York enjoyed before the current recession hit our state at the beginning of 2001, compares New York’s situation with other states and with the nation as a whole; and, examines variations within New York State.

This Labor Day, New York’s workers face an economy weakened by the combined effects of the national recession and the economic devastation wrought by the attack last September on the World Trade Center. The state has lost 132,000 jobs (-1.5%) since the peak level reached in December 2000. The national recession began in March of 2001. Most of the state’s job loss has been concentrated in New York City, the area most directly affected by the September 11th attack. Unemployment has risen and thousands of people are exhausting their unemployment benefits each week.

In the latter part of the late 1990s expansion in New York, prior to the onset of the economic slowdown, the state’s job growth record had improved. But, as this report and the new edition of the Economic Policy Institute’s The State of Working America 2002-03, show, by many indicators of economic well-being, the late 1990s economic expansion was not sufficient to significantly improve the living standards of many New York workers and their families. Moreover, many indicators show that New Yorkers generally did not fare as well as workers and their families in the rest of the nation.

Learning from the ’90s: How Poor Public Choices Contributed to Income Erosion in New York City

September 1, 2002. 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. Full report, executive summary, press release.