May 2, 2013. A new report from JobsFirstNYC and co-authored by James Parrott, Deputy Director and Chief Economist, Fiscal Policy Institute, and Lazar Treschan, Director of Youth Policy, Community Service Society, takes an in-depth look at both the supply and demand dimensions of the job market faced by New York City’s 18-24 young adult population. Barriers to Entry: The Increasing Challenges Faced by Young Adults in the New York City Labor Market looks at changes in the city’s labor market… (read more)
Revised NYS and NYC unemployment rates eliminate the mid-2012 spike and clear up what had been a confused picture
March 18, 2013. Earlier this month the NYS Department of Labor released its annual revisions to the employment and unemployment data. As noted in an earlier blog entry, New York’s private payroll employment growth was revised upward and government employment was revised to show the loss of 59,000 state and local government jobs between December 2010 and December 2012.
In the revised unemployment data for 2011 and 2012 released by the Department of Labor, the unemployment trend replaces… (read more)
Good news on private sector jobs front, but recovery would have been even stronger if it were not for government austerity measures.
March 8, 2013. The New York State Department of Labor (NYSDOL), in its press release yesterday on the latest employment data, emphasized some good news—that New York State has had 17 consecutive months of private sector job growth, and that the state gained an estimated 29,600 private sector jobs in January (on a seasonally adjusted basis.)
Nothing wrong with reporting good news. There was more good news in NYSDOL’s annual payroll employment revision that was also released yesterday.… (read more)
February 8, 2013. One of New York City’s biggest challenges is providing a sufficient number of decent job opportunities to enable its citizens to provide for their families and offer hope of a better life for their children. The city’s pronounced income polarization is fundamentally rooted in the job market. Economic and labor market changes over the years have severely limited the availability of good jobs that provide reasonable health and retirement benefits. These changes, which threaten the survival of… (read more)
December 20, 2012. Prepared by FPI for the Brooklyn Chamber of Commerce, the latest issue of the BLMR looks at Brooklyn’s food chain including specialty food manufacturing, restaurants, and gourmet food stores. The report finds that when you look at the entire Brooklyn food chain—starting with food manufacturing and wholesale distribution, and including grocery stores, specialty food stores, restaurants and coffee shops—nearly 59,000 people are employed in 7,800 businesses. Thus, the food chain accounts for 16 percent of the 49,000 businesses… (read more)
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… (read more)
September 28, 2012. In testimony submitted to the New York City Council Committees on Economic Development, Higher Education and Technology, James A. Parrott, FPI’s Deputy Director and Chief Economist, concluded that the “Applied Sciences NYC Initiative” represents an important step in diversifying the New York City economy. According to Parrott, this initiative, which includes the plan for the development by Cornell and Technion Universities of a new engineering campus on Roosevelt Island, as well as projects involving… (read more)
July 25, 2012. Testimony presented to the New York Assembly Standing Committees on Labor, Energy and Corporations, Authorities and Commissions. In sum: Con Ed’s lockout of its skilled workforce is unnecessarily putting the people of New York City and Westchester County at risk of serious electric, gas and steam outages. Con Ed’s actions jeopardize the incomes of thousands of hourly-paid workers and the business activity and viability of small businesses throughout the regional economy. Given the slow recovery from… (read more)
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.
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.