October 3, 2011. New numbers from FPI’s Immigration Research Institute show that immigrants make up almost half of all small business owners in New York City. And, immigrants in the labor force are somewhat more likely than U.S.-born workers to own small businesses. Immigrant small business owners are an extremely diverse group, with no single country of origin dominating; in fact, the top ten groups together still make up just 45 percent of the total number of immigrant small business… (read more)
Jobs, Wages & Income
Building New York’s Future: Creating Jobs and Business Opportunities Through Mass Transit Investments
September 27, 2011. This white paper finds that as New York comes out of the most severe economic downturn since the Great Depression, the state can and should pursue a mass transit-related manufacturing strategy, positioning itself as a leader in sustainable transportation while creating good, middle class jobs for New Yorkers. Working toward broad political commitment and securing adequate funding for New York’s transit authorities’ capital and operating budgets, and for national mass transit infrastructure, are necessary complements.
September 26, 2011. Prepared by FPI for the Brooklyn Chamber of Commerce, the latest issue of the BLMR finds that Brooklyn led all boroughs in job creation and in new firm creation over the last decade. During this period, Brooklyn added 50,000 jobs while the while New York City as a whole lost 16,000. The borough added not only hundreds of restaurants and retail shops but also health care, business and professional service companies.
September 22, 2011. FPI’s James A. Parrott delivered testimony before the New York City Council Committee on Aging detailing the following points: Unemployment for older workers has continued to increase during the past year and a half, despite the recovery. And many older workers who are still employed have seen their hours, and their weekly pay, reduced. For New York City workers ages 55-64, both unemployment and under-employment are sharply higher now than before the recession began, and higher… (read more)
State of Working New York 2011, Part I: One in seven New Yorkers out of work two years into “recovery”
August 31, 2011. FPI’s 2011 annual edition of the State of Working New York documents New York’s continuing unemployment crisis in the context of the weak national economic recovery. Two years into the “recovery” from the Great Recession of 2008-2009, one in seven New York workers is unemployed, under-employed or has given up looking for work – a total of 1.4 million New Yorkers. Long-term unemployment is at record levels. Half of the unemployed have been out of work for… (read more)
Scant recovery for workers in NYC: Young workers see gains, but unemployment worsens for older workers
July 20, 2011. This report, the latest on “The State of Working NYC,” finds several crosscurrents in the first year after the job market bottomed out in NYC. Young workers (ages 16-21 and 22-27) gained in the recovery, contrary to the national trend of decreasing employment rates for these age groups. Unfortunately, older workers too bucked the trend: nationally they made small gains, but in NYC they fared worst of all age groups. While NYC’s job growth outpaced the… (read more)
June 24, 2011. Governor Cuomo won a great political victory in getting his 2011-2012 budget adopted on time and with very few changes. And it now looks like the Legislature will be enacting – again with very few changes – the very tight cap on property tax levies that the Governor spelled out during his 2010 campaign. This brief examines how the New York economy fared, compared to other states, under the more balanced fiscal policies of recent years.… (read more)
June 22, 2011. Prepared by FPI for the Brooklyn Chamber of Commerce, the latest issue of the BLMR looks at immigrant entrepreneurs in Brooklyn by sector. The report finds that there are nearly 14,500 Brooklyn immigrant small businesses across a range of sectors from construction to restaurants, grocery stores, child care services and doctors’ offices.