February 9, 2010. Despite Wall Street’s rebound, unemployment and hardship are extremely high for most New Yorkers; at best, recovery will be very gradual. This briefing finds that the Mayor’s proposed budget cuts and the state budget-related contingency cuts will worsen unemployment and hardship. To mitigate the harmful impact of the budget, increased federal fiscal aid is the highest priority, followed by progressive income tax increases – less harmful than budget cuts. Briefing >>

February 3, 2010.  The Fiscal Policy Institute’s twentieth annual budget briefing. Briefing book on the 2010-2011 executive budget >>

December 21, 2009. An article by James Parrott, FPI’s deputy director and chief economist, who writes regularly for Gotham Gazette’s Economy section. Article >>

December 21, 2009. Current unemployment rates at a neighborhood level for New York City, and estimates of the unemployment rate by race/ethnicity and gender: the numbers show huge variations from neighborhood to neighborhood and also within neighborhoods. For example, while the overall unemployment rate in New York City was 10.1 percent in the third quarter of 2009, unemployment was 5.1 percent on Manhattan’s Upper East and West Sides in the third quarter, compared to 15.7 percent in the South… (read more)

December 17, 2009. New estimates released today by the Center on Budget and Policy Priorities (CBPP) are based on seven provisions of the American Recovery and Reinvestment Act (ARRA) that directly affect individuals: three tax credits for working families, two unemployment insurance expansions, an increase in food stamps, and a one-time payment for retirees, veterans, and people with disabilities. Not only is the Recovery Act is creating jobs, helping close state and local budget gaps, and boosting the broader economy,… (read more)

November 19, 2009. While Wall Street recovers, New York City’s Main Street economy remains mired in the “Great Recession.” This report from FPI is an examination of the impact of the country’s “Great Recession” on the New York City economy. The data show the shallowness of the previous expansion from 2003 to 2007 before the onset of the Great Recession, and recession-related job losses and rising economic insecurities. The report also explores in detail the character and extent of unemployment… (read more)

September 24, 2009. Commissioned by the Brooklyn Chamber of Commerce, this review finds that the devastating blow dealt to New York City by the current recession has been less painful to Brooklyn. American Recovery and Reinvestment Act (ARRA) dollars are having an impact in the borough, and Brooklyn has experienced job growth in some sectors in spite of losses citywide. Read the report >>

September 22, 2009. An article by James Parrott, FPI’s deputy director and chief economist, who writes regularly for Gotham Gazette’s Economy section. Article >>

September 16, 2009. This edition of the State of Working New York is released as the country hobbles through the worst economic crisis – the steepest economic drop and the longest period of job loss – since the 1930s. We are in the midst of what’s been justly termed “The Great Recession.”

Over 850,000 New Yorkers are unemployed. The state’s official unemployment rate is 8.6 percent as of July 2009 – the most recent data available – and it is… (read more)

April 30, 2009. Testimony presented by chief economist James Parrott to the Rent Guidelines Board. Three points: this is the worst recession since the Great Depression with sharply higher unemployment; inflation-adjusted wages and incomes are falling for most New York families; and housing costs are placing an enormous burden on New York City working families.