New York is outpacing the nation in job growth but …

December 31, 2003. This economic update shows that the current national recovery is creating jobs at an unprecedented low rate.

Revitalizing the Cities of Upstate New York

October 29, 2003. Testimony presented by Lava Thimmayya to the Assembly Standing Committee on Cities, Public Hearing on The Tools Necessary to Revitalize the Cities of New York.

State of Working New York 2003: Unbalanced Regional Economies through Expansion and Recession

September 18, 2003. Recovery may be finally beginning, but will be hard and slow. As of the fall of 2003, New York workers still face an economy weakened by the combined effects of a national recession, the bursting of the Wall Street and dot-com bubbles, and the economic devastation wrought by the September 11, 2001, attack on the World Trade Center. These factors have combined to make the rate of job loss over the last two-and-a-half years much greater in New York State than in the nation as a whole. New York’s three  “super regions” reflect different economic trends and characteristics. Job stagnation and income polarization across regions and among New Yorkers will constrain growth in the future.

New York City’s Garment Industry: A New Look?

August 20, 2003. Informed by interviews with industry experts, this report identifies several potentially effective and promising approaches being pursued by New York City apparel manufacturers and contractors in an increasingly competitive global marketplace. Read the report >>

Revitalize New York By Putting People to Work: A Jobs-Based Strategy for Economic Diversification and High-Road Growth

July 11, 2003. A comprehensive proposal for economic revitalization in New York City after the September 11, 2001, attacks. Published by LCAN, the Labor Community Advocacy Network to Rebuild New York, a network of 40 organizations convened by the Fiscal Policy Institute and the Central Labor Council, and coordinated by FPI senior fellow David Dyssegaard Kallick.

Combined Impact of the Federal, New York State and New York City Income Tax Changes

June 2003. The net result? A substantial net reduction in the income tax liability of affected taxpayers. Data analysis >>

In adopting the 2003-2004 state budget, the New York State Legislature was able to greatly reduce the local property and sales tax increases and the service cuts that would have occurred if Governor Pataki’s budget had been adopted as submitted. To a significant degree, this local tax relief was made possible by the Legislature’s adoption of temporary increases in the state income tax for the 2003, 2004 and 2005 calendar years.

A new top rate of 7.7% was put into place for each of these three tax years for taxpayers with taxable incomes above $500,000. A lower temporary rate (7.5% for 2003, 7.375% for 2004 and 7.25% for 2005) was put into place for married couples with taxable incomes between $150,000 and $500,000 and for individuals with taxable incomes between $100,000 and $500,000. The new 7.7% top rate, which only applies to taxpayers with taxable incomes above $500,000, is just about half the top state rate (15.375%) that was in place in the early and mid-1970s. Because state and local income taxes paid be deducted when calculating federal income tax liability, the net impact on the affected taxpayers is much less than the revenue raised by the state.

In addition, the federal tax cuts enacted in both 2001 and 2003 are particularly generous for taxpayers in these income ranges. The net result is that the combined impact of the federal, state and New York City income tax changes is a substantial net reduction in the income tax liability of affected taxpayers. Without even taking the President’s cut in dividend taxes into consideration, for example, the net annual tax cut for New York families earning $1 million is over $31,000 for those who live outside New York City and about $25,000 for those living in the city.

Security Guards & Building Services Occupations in New York City: Trends and Issues

June 28, 2003. A labor market profile prepared by the Fiscal Policy Institute. Read the report >>

The Construction Labor Market in New York City: Trends and Issues

June 28, 2003. A labor market profile prepared by the Fiscal Policy Institute. Read the report >>

Ideas for ending (or, at least, de-escalating) the economic war among the states

June 26, 2003. A paper presented by FPI Executive Director Frank Mauro at symposium on the Economic War Among the States co-sponsored by FPI and Good Jobs First at Georgetown Law Center, (PDF)

New York City’s Unemployment Crisis and the Need for an Emergency Job Creation Program

May 22, 2003. Testimony presented by FPI Deputy Director and Chief Economist James Parrott to the Assembly Committee on Cities. Testimony >>

Related: Newsday story, “Expert: Jobs Are the Problem.”

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