New York City economy

Amid Talk of Recovery, Jobless Rates Reach Double Digits

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 >>(read more)

Retail Wages in New York City

June 24, 2009. Testimony before the Bronx Community Board 7’s public hearing on the Kingsbridge Armory Project, presented by research associate Michele Mattingly. As New York City leaves behind an economic era characterized by a financial sector distorted by reckless speculation, it is imperative that we rebuild the city economy on the basis of good, family-supporting jobs that create and sustain the middle-class.… (read more)

The Economic Situation of New York City’s Low- and Moderate-Income Households

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.… (read more)

It’s bad, but not that bad

April 18, 2009. Something’s slowing the plunge. It must be the billions in taxpayer bailouts. An op ed by James Parrott, Crain’s New York Business.(read more)

NYC nonprofit sector the largest private employer: A vital part of the safety net, source of jobs for minorities

April 7, 2009. In New York City, nonprofits – health and human services and cultural organizations – employ nearly 500,000 workers, just over 15 percent of the total. The nonprofit sector includes hospitals, human service providers and arts organizations. How nonprofits fare in times of economic stress matters to all New Yorkers.

This report, written at the request of the Deputy Mayor for Health and Human Services, shows that the sector is growing, having added more than 50,000 jobs 2000-2007, … (read more)

The Impact of the Economic Crisis on Nonprofits in the Bronx

March 13, 2009. A presentation by James Parrott at Navigating the Fiscal Crisis: A Forum for Non-Profits, sponsored by the Bronx Forum, a partnership of the Bronx Borough President’s Office, Hostos Community College, and Jewish Community Relations Council of NY/CAUSE-NY. Presentation >>(read more)

The Impact of the Economic Crisis on the Bronx Workforce

January 22, 2009. A presentation made by James Parrott to the Bronx Borough Board. Presentation >>(read more)

Low Wages, No Bargain: Retail Jobs in New York City

December 22, 2008. The outlook for the 2008 holiday shopping season is bleak. Despite more shoppers in the stores, looking for steep discounts, profits are down. And corporate owners aren’t the only ones getting hurt. The retail sector has long been an important part of the local economy – and is more critical than ever given the ongoing retrenchment of the financial sector. But jobs in retail too often fail to support the American dream, as shown by demographic information … (read more)

New York City Unemployment in 2009: The Emerging Crisis

December 11, 2008. While New York City lagged the national economy entering the downturn, the recession is clearly here in full force, and labor market conditions are likely to deteriorate rapidly in the months ahead. The number of unemployed New York City residents could rise by 120,000 over the next year, escalating the hardships felt by tens of thousands of New York families and straining the social safety net. Report >>(read more)

The End of Wall Street as We Know It

September 22, 2008. An article by James Parrott, FPI’s deputy director and chief economist, who writes regularly for Gotham Gazette’s Economy section. Article >>(read more)