Stockton, California, Retirees Feel Shock of Benefit Rollback

June 28, 2012. An article by Alison Vekshin, Business Week. Stockton's approach punishes people with little power to fight back, said Frank Mauro, executive director of the nonpartisan Fiscal Policy Institute, a nonprofit research organization based in Latham, New York. "They’re hurting very vulnerable citizens," Mauro said yesterday by telephone. "What can a retiree who’s been retired for 10 to 15 years already and is living on a fixed income do?" Also posted to Bloomberg News and Financial Advisor magazine.

2012-07-09T14:55:48-04:00June 28th, 2012|FPI in the News|

Young New Yorkers hurt by falling wages, high unemployment and a larger share of college costs

June 24, 2012. An article by Catherine Curan, New York Post. New York City workers ages 21 to 24 saw their median hourly wages drop 5 percent from 2002 to 2011. Unemployment is so high that workers with a four-year college degree actually saw their wages drop more sharply than workers with less education, according to the Fiscal Policy Institute. "Individual young adults have done the right thing and gone to college, but are not being rewarded for it in this labor market," said James [...]

2012-06-30T17:48:22-04:00June 24th, 2012|FPI in the News|

Blacks Miss Out as Jobs Rebound in New York City

June 20, 2012. An article by Patrick McGeehan, New York Times. An excerpt: For months now, New York officials have been highlighting how the city has regained all the jobs lost during the long recession and then some. But by several measures, the city's recovery has left black New Yorkers behind. More than half of all of African-Americans and other non-Hispanic blacks in the city who were old enough to work had no job at all this year, according to an analysis of employment data [...]

2012-06-26T15:36:06-04:00June 20th, 2012|FPI in the News|

South Florida leads nation in immigrant small business owners

June 19, 2012. An article by Marcia Heroux Pounds, Broward/Palm Beach Sun Sentinel. South Florida has the highest share - 45 percent - of immigrant business owners, of metropolitan areas in the United States, according to a new analysis by Fiscal Policy Institute, a research group in New York. The study indicates a change since 1990 when the Miami-Fort Lauderdale metropolitan area was tied with Los Angeles in immigrant business ownership, both at 35 percent, the Institute said. Business ownership by immigrants is closely linked [...]

2012-06-26T15:44:13-04:00June 19th, 2012|FPI in the News|

Annual conference on local government – Sponsored by Hudson Valley Pattern for Progress

June 19, 2012, Newburgh. The program focused on lessons learned from the first year of the state's 2 percent tax cap, along with the ongoing crisis in public finance. FPI's Frank Mauro moderated the plenary panel, "The Crisis in Public Finance." The panel was preceded by a keynote address by Richard Brodsky of the Independent Commission of Inquiry into the Finances of the City of Yonkers. Agenda.

2020-12-21T14:48:18-05:00June 19th, 2012|Fact Sheets|

One in six U.S. small businesses owned by immigrants

June 18, 2012. An article by Terry Brodie, Toronto Globe and Mail. 18% of small business owners are immigrants, up from 12% 20 years ago Immigrants to the United States are playing an increasing role in small businesses, with more than one in six such businesses now owned by an immigrant, finds a new study from the Fiscal Policy Institute. The study found that people born in another country comprise 18 per cent of all small business owners, though they make up 13 per cent [...]

2012-06-18T20:39:50-04:00June 18th, 2012|FPI in the News|

Impact of the New York City FY 2013 Executive Budget Proposal on Women, Children and Families

June 18, 2012. This report prepared for the New York Women's Foundation shows that the budget cuts proposed in the Mayors Executive Budget fail to respond to heightened needs and jeopardize the outlook for economic improvement and security for many low-income women and their families. The proposed cuts and funding shortfalls increase the risk of poverty in two ways: by destabilizing those already struggling, and by reducing opportunities to move out of poverty. Reducing the reliance on spending cuts to balance the budget will mitigate [...]

With Taxi Deal Blocked, the City’s Budget Is in Flux

June 17, 2012. An article by David W. Chen, New York Times. James A. Parrott, the deputy director of the Fiscal Policy Institute, said that Mr. Bloomberg had good reason to assume that the medallion revenue would flow into city coffers, once Gov. Andrew M. Cuomo and lawmakers had agreed to authorize the sale. But Mr. Parrott accused the mayor of not looking hard enough at increasing revenue from the city’s highest earners — a step advocated by one possible mayoral candidate, John C. Liu, [...]

2012-06-18T20:43:18-04:00June 17th, 2012|FPI in the News|

City confounds predictions, gains 14K private jobs in May

June 17, 2012. Growth tempered a bit by losses in public sector employment. An article by Daniel Massey, Crain's New York. The city economy continued its remarkable run in May, adding 14,100 private-sector jobs and bringing the total to 70,100 for the first five months of the year, according to an analysis of state Department of Labor data released last week. The unemployment rate ticked up slightly, to 9.7% from 9.5%, but that increase was because job growth did not keep pace with a jump [...]

2012-06-18T19:14:58-04:00June 17th, 2012|FPI in the News|

Spending growth has slowed in state: Ranks in lower 25 for 2 budget years

June 17, 2012. An article by Jerry Zremski, Buffalo News. Excerpt: In a clear break from tradition, New York State has ranked in the lower half of the 50 states in spending growth during the last two budget years - athough the Empire State's welfare recipients and public employees have gotten off easy compared with their peers in many parts of the country. Those are the key conclusions about New York in the most recent version of the Fiscal Survey of the States, a twice-yearly [...]

2012-06-18T17:34:30-04:00June 17th, 2012|FPI in the News|

Economy crushing NY’s middle class

June 16, 2012. An article by Catherine Curan, New York Post. The Great Recession is dealing a body blow to New York's battered middle  class. An astonishing 55,000 families dropped out of the middle class in New York  state between 2007 and 2010. In New York City, more than 37,000 families fell to the bottom rungs of the  socioeconomic ladder in the same time period. In 2010, there were 4.6 million families in the state and 1.2 million  families in the city that were solid [...]

2012-06-18T19:00:14-04:00June 16th, 2012|FPI in the News|
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