Jobs, Wages & Income

New York’s Unemployment System Depends on Continued Federal Assistance

May 11, 2020

Following the Great Recession, New York’s Unemployment Insurance Trust Fund only achieved a positive fund balance for the first time in fiscal year 2016. On January 1, 2020, the balance stood at $2.65 billion, but the fund was nearing insolvency according to a report by the U.S. Department of Labor.

Since the COVID-19 pandemic mitigation began eight weeks ago, over 1.7 million New York residents have filed for unemployment, which is roughly 5 percent of the nation’s … (read more)

Undocumented and Unemployed

Orders for non-essential workers to stay at home and the ripple effects of the coronavirus have been felt throughout the New York economy. Over one million New Yorkers have filed for unemployment insurance since the middle of March when the coronavirus impact was first felt.

Yet, one group is left behind by both the state’s existing unemployment insurance system and the federal government’s temporary enhancements to that system: undocumented immigrants. There are an estimated 530,000 undocumented immigrants in the New … (read more)

Fines and Fees: Raising Revenue at the Community’s Expense

As New York State looks toward restarting the economy in the wake of COVID-19, a new report from the Fiscal Policy Institute (FPI) warns local governments not to rush to build revenue through the use of fines and fees – a long-standing, inequitable source of funding primarily drawn from low-income communities and communities of color.

Between 2010 and 2017, 31 city governments, out of 62, in New York State reported an increase in expected fine revenue in their annual budgets, … (read more)

FPI Comments on Federal Reserve Action

April 17, 2020

Recently, the Federal Reserve took a welcome step forward for states struggling in the wake of the pandemic by creating a new way to lend money directly to states and municipalities.  Through the Municipal Liquidity Facility, New York and other states struggling with a sudden drop-off in much-needed revenue can now access the funds needed to cover essential services.

While this is helpful in the short-term, states will need to borrow until their revenues recover. And that … (read more)

Press Release: Spotlight on New York’s Essential Workers

April 8, 2020

Overlooked, Underpaid and Indispensible

Read the report: http://fiscalpolicy.org/wp-content/uploads/2020/04/Essential-Workers-Brief-Final.pdf

(Albany, NY) Today the Fiscal Policy Institute (FPI) released a new report spotlighting New York’s essential workers who are on the frontlines during the COVID-19 pandemic. According to the new analysis, there are 2.2 million “essential workers” in New York State. Twenty-two percent of these essential workers support their families on low incomes, with family incomes of less than 200 percent of the poverty level.

Statement from (read more)

Report: Spotlight on NY’s Essential Workers

The coronavirus crisis has put a new focus on “essential workers,”  people who are bringing deliveries to our homes, working in supermarkets and convenience stores, keeping the public transportation system functioning, providing social services and childcare, and working in the healthcare industry.

These essential workers have always played a critical role in keeping our communities running. At a time when many streets are eerily empty, however, we can see all the more clearly who is still out there making sure … (read more)

Don’t Let the Pandemic Shortchange Our State Budget Process

For Immediate Release: March 31, 2020

 

(Albany, NY) Today the Fiscal Policy Institute (FPI) released a set of recommendations to safeguard New York’s budget process and ensure a just budget for all. Predictions of a budget shortfall preceded the unforeseen economic impact of the pandemic and FPI urged leadership to think beyond the continued use of the same austerity budget measures put in place year after year. Now, faced with the urgent needs of our community members, FPI urges … (read more)

FPI’s 2020 State Budget Presentations

Our state budget is an opportunity to define our values and choose our future. Will our actions reinforce inequity and inequality or can we pull together to create a more just New York for all? FPI took a look at the proposed executive budget and shared our thoughts in two presentations, one in Albany and one in New York City. If you missed those informative events, you can still take a look at what was presented.

Fiscal Policy Institute Reacts to Governor Cuomo’s State of the State Address

FOR IMMEDIATE RELEASE: January 8, 2020

Media Contact: Fern Whyland, Communications Director, whyland@fiscalpolicy.org, 315-436-0558

Fiscal Policy Institute Reacts to Governor Cuomo’s State of the State Address

FPI Agrees that New Yorkers Deserve Results, Not Rhetoric 

Statement from Ron Deutsch, Executive Director, Fiscal Policy Institute
 
“Governor Cuomo is right that New Yorkers deserve results, not rhetoric. While our state economy booms, we continue to be short-changed by austerity budgeting. Missing from the governor’s State of the State address is clarity
(read more)

FPI’s New Report Highlights the Unequal State of New York

For Immediate Release: December 6, 2019

Media Contact: Fern Whyland, Communications Director, whyland@fiscalpolicy.org, 315-436-0558

The Unequal State of New York

The Majority of Income is Captured by the Fewest New Yorkers

Read the report: The Unequal State of New York click here.

(Albany, NY) The Fiscal Policy Institute reports that New York State has the most unequal income distribution in the nation, with the fewest people capturing the greatest share. Not since the “Gilded Age” of the 1920s has … (read more)