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)

FPI Reaction to the 2009-2010 Executive Budget

December 16, 2008. The governor’s proposal hurts low- and moderate-income New Yorkers while requiring little from wealthy New Yorkers, and would would cause needless harm to the state economy. The lessons from 2003 show that New York can successfully close large budget gaps without these negative impacts. Press release >>(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)

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)

New York State Commission on Property Tax Relief

December 1, 2008. An archived copy of the Commission’s website (originally at “www.cptr.state.ny.us”) is available through the New York State Library, including reports, fact sheets, webcasts and transcripts.

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They’re a part of the Island: Immigrants pay taxes and otherwise contribute to our community

November 20, 2008. A column by FPI senior fellow David Dyssegaard Kallick, Newsday.… (read more)

After the Meltdown: New York’s Future

November 19, 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)

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)

Maximizing the Value and Use of State Assets

November 6, 2008. Testimony of James A. Parrott before the New York State Commission on State Asset Maximization. To fulfill the commission’s charge to “maximize the value and use of state assets,” the state should carefully consider in-house design and prevailing wage standards when setting up new projects. Also, economic development subsidies should include strict accountability standards; the state should not act as project investor without receiving in return an ownership stake for the taxpayers.… (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)