Press Releases

New York City Immigrants in the Great Recession

August 2, 2010. How are immigrants faring in the economic downturn? Data released by FPI shows that immigrants, who make up nearly half of the New York City labor force, have an unemployment rate that is slightly lower than for U.S.-born workers. First, immigration is sensitive to labor market demand, so when there are fewer jobs, immigration slows. Second, lacking a safety net, immigrants are more likely to work at whatever jobs they can get. U.S.-born workers may have the resources to search longer for [...]

2020-11-13T14:42:46-05:00August 2nd, 2010|Economic Outlook, Economic Trends & Policy, Migration, Press Releases, Reports, Briefs and Presentations|
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The Self Sufficiency Standard for New York

June 29, 2010. As New York recovers from the current recession, long-term economic prosperity will require responsible planning that puts all New Yorkers on the path to self-sufficiency. What does it take to make ends meet in New York without public or private assistance? How can we measure income adequacy? The Self-Sufficiency Standard published here answers these questions, using the best tools available to set out practical levels of economic security for New York families and individuals. The Self-Sufficiency Standard defines the income needed to [...]

2020-11-13T14:28:00-05:00June 29th, 2010|Economic Trends & Policy, Labor Market & Workforce, Press Releases, Reports, Briefs and Presentations|
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New York Has the Ways and Means: How and Why Wall Street Should Give Back to Main Street

April 19, 2010. This new report details how a temporary bonus tax and other Wall  Street measures could ease New York's budget crisis and fund property tax relief for the most burdened households. Sensible options for closing the state  budget gap meet three goals: Support rather than undermine the needs of New York families. Minimize the  negative impact of this year’s budget decisions on the fragile state economy. Require the New York financial industry - which bears responsibility for much  of the negative impact on [...]

2012-03-18T13:32:27-04:00April 19th, 2010|Press Releases, Reports, Briefs and Presentations, State Budget, Tax & Budget, Tax Policy|
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China trade gap displaces 140,000 New York jobs

March 23, 2010. China's currency manipulation fuels continued trade imbalance. New York has lost 140,000 predominantly middle-wage manufacturing jobs in recent years as a result of China's unfair trade practices, according to a new report from the Economic Policy Institute. Press release with data for New York Congressional districts >>

2020-11-13T14:50:34-05:00March 23rd, 2010|Economic Outlook, Economic Trends & Policy, Press Releases|
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New York City in the Great Recession: Divergent Fates by Neighborhood and Race and Ethnicity

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 and Central Bronx and 19.2 percent [...]

2020-11-13T14:48:31-05:00December 21st, 2009|Economic Outlook, Economic Trends & Policy, Press Releases, Reports, Briefs and Presentations|
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Recovery Act Keeping Roughly 419,000 New Yorkers Out of Poverty

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, it is also softening the [...]

2020-11-13T14:42:47-05:00December 17th, 2009|Economic Outlook, Economic Trends & Policy, Press Releases, Tax & Budget|
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Immigrants and the Economy

November 30, 2009. This new report shows the robust immigrant contribution to GDP in the country's 25 largest metropolitan areas. In the 25 metro areas combined, immigrants account for 20 percent of economic output and 20 percent of the population. The same basic relationship holds true, with slight variation, for each of the 25 areas, from metro Pittsburgh, where immigrants represent 3 percent of population and 4 percent of GDP, to metro Miami, where immigrants make up 37 percent of the population and 38 percent [...]

2012-03-18T14:18:31-04:00November 30th, 2009|Migration, Press Releases, Reports, Briefs and Presentations|
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A Tale of Two Recessions: The State of Working New York City, 2009

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 in New York City - [...]

2020-11-13T14:48:31-05:00November 19th, 2009|Economic Outlook, Economic Trends & Policy, Press Releases, Reports, Briefs and Presentations|
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State of Working New York 2009: Unemployment and Economic Insecurity in the Great Recession

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 expected to continue rising for [...]

2020-11-13T14:42:47-05:00September 16th, 2009|Economic Outlook, Economic Trends & Policy, Labor Market & Workforce, Press Releases, Reports, Briefs and Presentations|
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Casualty of Chaos: The Cost of Albany’s Inaction on Jobless Benefits

July 2, 2009. Albany inaction costs jobless New Yorkers $267 million. A potent tool for fighting downturn, unemployment benefits deliver economic stimulus where it's most needed. But New York's jobless benefit has been frozen since 2000, and now lags behind dozens of states. This report from FPI and the National Employment Law Project shows that upstate counties have been hurt the most by the legislature's failure to increase unemployment benefits. Press release Full report including county data

2020-11-13T15:15:22-05:00July 27th, 2009|Press Releases, Reports, Briefs and Presentations, Social Policy|
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Federal minimum wage boost affects 123,000 New Yorkers – but only slightly

July 23, 2009. On July 24, an estimated 123,000 New York workers will benefit when the minimum wage rises from the state's minimum of $7.15 an hour to the new federal minimum of $7.25 an hour. The minimum wage in New York will still lag that in 13 other states and the District of Columbia. And, a full-time worker will still not earn enough to keep a family of three out of poverty. Press release with data >>

2020-11-13T14:58:54-05:00July 23rd, 2009|Economic Trends & Policy, Labor Market & Workforce, Press Releases|
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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, while the rest of the [...]

2020-11-13T15:09:27-05:00April 7th, 2009|Economic Outlook, Economic Trends & Policy, Labor Market & Workforce, Press Releases, Reports, Briefs and Presentations, Social Policy|
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