Monthly Archives: November 2020

Holiday Season Underscores the New Yorkers’ Need for Support as Pandemic Deepens Inequity

Read the report:  The Pandemic Recession: Hitting Immigrants and People of Color Hardest  (Albany, NY) — The holiday season is beginning in our state as never before with a second COVID wave bearing down on the health and financial stability of New Yorkers. While the COVID-19 is a threat to us all, immigrants and people of color are by far hit the hardest. And undocumented immigrants may be hit harder still since they are concentrated in several of the industries that have seen the biggest employment decline.  “New Yorkers across the board are struggling to stay healthy, educate our children, and deal with financial insecurity of [...]

2025-04-04T14:27:25-04:00November 24th, 2020|Economic Outlook, Migration, Press Releases|
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COVID-19 Revenue Shortfalls Threaten Increase to Fines and Fees

 November 2020 Declining revenues threaten New York State’s Local Governments, starting with steep declines in sales tax revenue collections. This revenue stream, which annually totals just over $16 billion for New York State’s counties, cities, towns, villages, and school districts, is expected to shrink precipitously in 2020 and into 2021, exceeding the six percent decline realized during The Great Recession.[i] At the same time, the state’s property tax cap limits local governments’ ability to bolster local revenues. Moreover, Congress’s continued decision not to pass a [...]

2025-04-04T14:27:25-04:00November 23rd, 2020|Reports, Briefs and Presentations|
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Ron Deutsch to Step Down as FPI’s Executive Director

Several weeks ago, Ron Deutsch informed the Fiscal Policy Institute’s (FPI) Board of Directors that he planned to step down as Executive Director on December 15, 2020.  Mike Burgess, Chair of FPI’s Board of Directors, stated that “I have known and worked with Ron for over two decades, a time during which he has become such an effective and influential advocate for social and economic justice in various roles.  Over the past six years, he has brought his passion and commitment to the Fiscal Policy [...]

2025-04-04T14:27:25-04:00November 11th, 2020|Press Releases|
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NYC Labor Market Took a Hard, Sustained Hit from the Pandemic

New York City Residents were hit harder and longer by the pandemic than those in the rest of the state. While both the city and the state have shown job gains since May 2020, the rebound has been modest. The road to recovery is long. Looking at the Employment to Population ratio (EPOP), we can see both are doing worse than during the Great Recession when the New York state EPOP never dropped below 57.7 percent and averaged 59.3 percent over the whole period. The [...]

2025-04-04T14:27:25-04:00November 10th, 2020|Blog, Economic Outlook|
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