May 12, 2016. The U.S. Postal Service (USPS) is under attack by forces that favor privatization and oppose sensible proposals to invest in expanding its package delivery services and in re-introducing postal banking services that exist in many countries and that were provided in the United States from 1910 to 1966. With the Postal Service’s unparalleled network of post offices in every neighborhood and village in the country, postal banking has the potential to provide affordable, consumer-friendly financial services to … (read more)
New York State economy
February 3, 2016. In its 26th annual New York State budget briefing book, the Fiscal Policy Institute analyzes and comments on Governor Andrew Cuomo’s FY 2017 Executive Budget.
The Executive Budget advances some bold and progressive proposals that well reflect the values and needs of New Yorkers. In particular, the governor has shown great leadership and vision in forcefully advocating for a first-in-the nation statewide $15 minimum wage. If enacted, the minimum wage increase would lift the incomes of … (read more)
December 1, 2015. In a new analysis, the Fiscal Policy Institute finds that business profits per worker in New York State increased by 61% from 2001-13, while labor compensation per worker has risen by only 34%, and the typical worker received wage increases of 25-29%, much less than inflation.
James Parrott, the Institute’s Deputy Director and Chief Economist stated: “These data confirm once again that most workers in New York have not been sharing in the fruits of the … (read more)
November 10, 2014. The American Postal Workers Union asked FPI to estimate the net economic and fiscal impacts of proposed consolidations involving five postal facilities around the country. The proposed consolidations were part of a nationwide “cost-savings” plan that would have further slowed mail delivery times. One of these involved a proposal to downsize sorting operations at the mail processing center in Newburgh, New York, in the lower Hudson Valley and to consolidate these operations at the Albany processing … (read more)
November 21, 2013. Drilling in the six states that span the Marcellus and Utica Shale formations has produced far fewer new jobs than the industry and its supporters claim, according to a report by the Multi-State Shale Research Collaborative, a group of research organizations tracking the impacts of shale drilling that includes the Fiscal Policy Institute.
The Marcellus and Utica shale formations span six states: New York, Ohio, Pennsylvania, West Virginia, Maryland, and Virginia. Natural gas development in these … (read more)
October 16, 2013. Fast food jobs are by far the biggest source of job growth in New York State and New York City in this recovery and over the past decade. But, with a median hourly pay of only $8.90 an hour in NYC, this growth in fast food jobs is one of the reasons that poverty has risen sharply during the recovery.
NYC has a record number of working poor—one out of every 10 workers in NYC works, … (read more)
August 28, 2013. New York workers are paying a high price for persistent unemployment four years into the weakest recovery since the Great Depression, according to the Fiscal Policy Institute’s (FPI) 2013 edition of The State of Working New York. The report notes that in addition to lost job opportunities and health benefits, New York workers are suffering from prolonged periods of joblessness, and high rates of underemployment (or “hidden unemployment”), reflecting more discouraged workers who have given up … (read more)
August 22, 2013. The best way for New York State to grow its economy is by expanding investment in a well-educated workforce, according to a new study published by Economic Policy Institute for the Economic Analysis and Research Network (EARN). EARN is a network of 61 state and local economic think tanks and 25 national partners founded by the Economic Policy Institute and several other state and national groups, including the Fiscal Policy Institute.
November 15, 2012. A new report from the Fiscal Policy Institute shows that various income measures all point toward the same conclusions: In recent years, polarization has intensified; and New York has been one of the national leaders in this undesirable trend. The top one percent share of income dipped during the recession, but has started to rise again in the recovery. Further, no state is more polarized than New York and no large city is more polarized than New … (read more)
September 2, 2012. How are New Yorkers faring? Here’s the gist of this year’s annual report from FPI on the New York State economy:
- Unemployment in New York State has been around eight percent or higher for the past three and a half years, the longest stretch since the mid-1970s. The average duration of unemployment is currently nine months. The historic weakness of the recovery stems from the severity and nature of the Great Recession and financial collapse. Nationally,