Report finds growing income disparity in NY state

November 19, 2012. Karen DeWitt of the Innovation Trail writes about FPI's report: Pulling apart: The continuing impact of income polarization in New York State. "We no longer have a growing middle class with rising living standards," Parrott said. Those on the bottom rungs of the economic ladder are stagnating, the report finds. The state’s overall poverty rate is unchanged since 1980, but poverty has been increasing in upstate cities like Buffalo, Rochester and Syracuse, as people with any wealth have moved to the suburbs. [...]

2013-02-15T12:47:26-05:00November 19th, 2012|FPI in the News|

Analysis: What Is the economic impact of immigration reform?

November 19, 2012. An ABC/Univision report on the economic effects of immigration reform. "I wouldn't get too wedded to any particular or exact number, but I think you can learn a lot from the approach of going ahead and trying to make a projection," said David Dyssegaard Kallick, a senior fellow at the Fiscal Policy Institute, a nonpartisan organization that studies immigration and the economy. "You can see the magnitude of things."

2012-11-20T02:09:41-05:00November 19th, 2012|FPI in the News|

Study points to continued income polarization in New York

November 15, 2012. A report by WNET (Channel Thirteen) focused on FPI's Pulling Apart report, featuring a chart and write-up of the report. James Parrott, the principal author of the report, said the gap between high and low-income earners also strains the middle class. “Polarization is a major factor behind the erosion in living standards for the middle class–economic growth is no longer as broadly shared as it used to be,” he said. “This result is not inevitable and can and should be addressed.”

2012-11-20T15:26:59-05:00November 15th, 2012|FPI in the News|

Pulling apart: The continuing impact of income polarization in New York State

November 15, 2012. A new report from the Fiscal Policy Institute shows that various income measures all point toward the same conclusions:  In recent years, polarization has intensified; and New York has been one of the national leaders in this undesirable trend. The top one percent share of income dipped during the recession, but has started to rise again in the recovery. Further, no state is more polarized than New York and no large city is more polarized than New York City, (using the broadest measure of income polarization, [...]

Low-income immigrants get a hand

November 14, 2012. The San Francisco Chronicle writes about a California nonprofit group that helps low-income immigrants start their own businesses with technical assistance, microfinancing, and networking support. The 12-person staff operates on an annual budget of $1.2 million to $1.4 million and offers classes in San Jose, Richmond and Oakland, as well as Berkeley. Since 2000, clients have improved their household net worth by an average of 9 percent each, Butler said. Immigrants own 18 percent of small businesses nationwide, according to a study this [...]

2012-11-15T03:54:01-05:00November 15th, 2012|FPI in the News|

Towards an intelligent immigration policy

November 12, 2012. A conservative argument for immigration reform, from The National Review, cites FPI's work. Are the present high American unemployment rates actually being caused by overpopulation? No, jobs are not a resource that exists separately from people. Jobs are created by people. Immigrants are famously entrepreneurial: While immigrants constitute 13 percent of the American population, they own 18 percent of small businesses, and, according to a recent study by the Fiscal Policy Institute, were responsible for 30 percent of the growth of U.S. small [...]

2012-11-12T15:22:50-05:00November 12th, 2012|FPI in the News|

Filipina designer Josie Natori among self-made immigrant millionaires

November 12, 2012. GMA, which bills itself as "the go-to site for Filipinos everywhere," ran this profile of Filipina fashion designer Josie Natori, putting her success in context using FPI's report on immigrant business owners. "There is no better place in the world for an immigrant to succeed than in the US. Follow your dream and make it happen," Natori shared her advice to immigrant entrepreneurs in the article. Referring to a June report from the Fiscal Policy Institute's Immigration Research Initiative, Browne noted that more [...]

2013-01-07T15:27:48-05:00November 12th, 2012|FPI in the News|

Seven self-made immigrant millionaires

November 9, 2012. A series of stories in Kiplinger about immigrant entrepreneurs, from a Salvadoran who came as an undocumented immigrant and started a successful concrete supplier to a Jamaican-born bakery owner to the Russian-born co-founder of Google. "Immigrants are such a varied group with people from countries all around the world that have a wide range of skill sets . . . and these [fields] have always been a natural fit" both locally and nationally, says David Dyssegaard Kallick, director of FPI's Immigration Research [...]

2012-11-15T04:55:04-05:00November 9th, 2012|FPI in the News|

The election could affect the sale of your business

November 6, 2012. A CNBC report explains the differences between the two presidential candidates on issues relevant to business owners, citing FPI's study of immigrant business owners. Immigration Obama: Has expressed the need to continue to secure America’s borders and hold businesses accountable that break the law by undermining the American workforce and exploiting undocumented workers. Legislation would allow immigrants brought illegally to the U.S. as children to apply for work permits. This could increase the number of small business buyers on the market as [...]

2012-11-07T15:19:10-05:00November 6th, 2012|FPI in the News|

With 9/11 as a guide, here are five ways to consider Hurricane Sandy’s economic impact

November 2, 2012. This piece on the economic impact of superstorm Sandy was written by James Parrott for Quartz, the new international business news site (Qz.com) published by The Atlantic Monthly. Since the October jobs report released today reflects employment conditions as of the second week of the month, it doesn’t tell us anything about the impact of Hurricane Sandy, the most devastating storm to hit the New York metro area in decades. What can we expect to see in job reports in the months [...]

2020-11-13T14:48:29-05:00November 2nd, 2012|Blog, Economic Outlook, Economic Trends & Policy|

NYS employment and unemployment data: Is there a disconnect?

November 1, 2012. For the past year, the conflicting trends exhibited by employment and unemployment data for NYS (and its major sub-areas including NYC) have confused analysts and have made it unusually difficult to get a clear reading on the state’s economy. Payroll employment has generally shown a rising trend, more or less in line with the national job recovery over the past two years. However, in New York State, unemployment has also been rising, and by more than can be explained by people returning [...]

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