New York State economy

Lighten weight of tax burden

January 27, 2009.  Both fairness and sound economics should play a role in closing New York’s budget gap. A column by James Parrott, FPI’s deputy director and chief economist, in the Albany Times Union.… (read more)

Record Surge in NYS Unemployment in December: Lagging Benefits Expose Holes in Safety Net for Jobless New Yorkers

January 22, 2009. Data released today by the New York State Department of Labor reveal that the state’s unemployment rate jumped to 7.0 percent in December (the highest figure recorded in the state since 1994) from November’s revised level of 6.0 percent. Over 671,000 New Yorkers were unemployed in December, an increase of 229,000 (52 percent) from December of 2007. The national recession began in December 2007. Both the one-month unemployment increase of 1.0 percent and the 229,000 12-month increase … (read more)

Economists to Governor: Raise High-End Income Taxes To Help Close Budget Gaps

December 13, 2008. 120 economists from throughout New York State joined together this week to send a message to Albany: steep cuts in state spending will weaken the already struggling New York economy, and will hurt poor and middle income New Yorkers. In a letter to the governor, the economists urge him to take a balanced approach to closing the gap in the state budget between revenues and spending – an approach that includes raising taxes on high-income households.… (read more)

Testimony before the Assembly Ways and Means Committee hearing on the impact of the economic crisis on the state budget

November 13, 2008. Testimony submitted by FPI’s Frank Mauro and Ronald Deutsch of New Yorkers for Fiscal Fairness. To avoid deepening the already threatening recession, the state must not rely solely on drastic cuts in state spending to close current and expected budget gaps. A balanced approach includes tapping the state’s tax stabilization reserve fund (put together for this very purpose), surgical cuts in wasteful spending, and a high-end income tax surcharge like that used successfully in 2003 to close … (read more)

Wages for young New York Workers stuck at 1979 levels: Union representation means higher wages, more benefits

October 16, 2008. A new report from the Center for Economic and Policy Research, Unions and Upward Mobility for Young Workers, shows that the median wage in New York State for unionized young workers is 13 percent higher than for nonunion – and 15.5 higher for young women. Press release including New York-specific data >>(read more)

Unions Lift Wages for New York’s Hispanics

September 16, 2008. Unionization doubles health care and pension coverage. A new report from the Center on Economic and Policy Research, Unions and Upward Mobility for Latino Workers, shows that the median wage in New York State for unionized worker is $16.46 per hour, compared to a median of $12.00 per hour for nonunion. Press release including New York-specific data >>(read more)

State of Working New York 2008: New York’s Rising Unemployment – The Other Crisis in Albany

August 28, 2008. Job losses rise, straining state unemployment insurance. Unemployment is up by 56,000 in the first half of 2008; in 25 counties, the increase is over 20 percent. New York’s projected budget gaps have received considerable attention in Albany; the state’s growing unemployment is the other crisis to which Albany must also turn its attention.

FPI’s State of Working New York series, published biennially since 1999, provides comprehensive and up-to-date analysis of the data … (read more)

Unions Make a Big Difference for Low-Wage Workers

May 15, 2008. A new report from the Center for Economic and Policy Research analyzes Current Population Survey data from the Census Bureau and finds that workers represented by a union have higher wages, especially at the low end of the scale. Press release with New York specific data >>

“Too often, people think there’s not much we can do to reverse polarization in our economy. Here’s clear evidence that unionization helps: it raises wages for all workers, and it … (read more)

Honoring Dr. King’s Commitment to Unions

March 31, 2008. Dr. Martin Luther King, Jr. was assassinated forty years ago while in Memphis supporting the unionization of African American sanitation workers. To commemorate Dr. King’s commitment to unionization, FPI and the Center for Economic Policy Research (CEPR) are releasing new data about unionization among blacks in the nation and in New York State. Press release and data tables (unionization rates and union membership by race, 50 states). Also see CEPR’s Unions and Upward Mobility for African-American Workers(read more)

Testimony on the 2008-2009 Executive Budget – Economic Development and Taxes

February 11, 2008. Testimony submitted by FPI executive director Frank Mauro to the Senate Finance and Assembly Ways and Means committees. Given the many signs that we are in a recession, state leaders must be especially careful about the way they close the state budget gap. Some gap-closing strategies could actually exacerbate the downturn.… (read more)