2010

Stiglitz calls for a second stimulus at FPI event

October 8, 2010. FPI presented its Frances Perkins Working People’s award to Nobel economist Joseph Stiglitz at an event in Manhattan on October 7. In his acceptance remarks, Stiglitz made a strong case for additional economic stimulus to put the country firmly on the road to recovery. A good summary of Stiglitz’s remarks by Kathy Brady of the New York City Employment and Training Coalition is available in the October 8 edition of NYCETC’s newsletter, the NYC Workforce Weekly. Article (read more)

Hundreds of millions at stake for New York’s working families: Current tax debate to determine future of key work-supporting tax credits

September 27, 2010. Low- and moderate-income New Yorkers have a huge stake in the tax debate now going on at the national level: over $600 million annually in work-supporting tax credits. Enhancements to the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC) that were made by the American Recovery and Reinvestment Act (ARRA) will expire at the end of 2010 unless extended by Congress. A new report from the Fiscal Policy Institute reviews the workings of these … (read more)

City Poverty Rate Jumped as the Economy Slumped

September 27, 2010. An article by James Parrott, FPI’s deputy director and chief economist, who writes regularly for Gotham Gazette’s Economy section. Article >>(read more)

True/False: Public Employees Have Too Many Benefits

September 21, 2010. In this installment of “Wonk Wars,” FPI’s James Parrott discusses labor compensation with the Manhattan Institute’s Steve Malanga. On the web >> and on the air >>(read more)

Federal Tax Policy at a Crossroads

September 21, 2010. This policy brief compares the distributional impacts on New York taxpayers of President Obama’s plan and an alternative plan laid our in the Senate Republican leadership bill S.3773 – and looks at the impact of the same two proposals on programs and services. Conclusion? There are five reasons that the Bush tax cuts for the wealthy should be allowed to expire as scheduled, and the modifications of those tax cuts enacted as part of the Recovery Act … (read more)

Statement from James Parrott on the National Bureau of Economic Research Announcement on the Business Cycle

September 20, 2010. Most New York workers remain mired in a high unemployment, unacceptably slow recovery, despite today’s announcement by the NBER that the national recession bottomed out in June 2009, 15 months ago. By the most optimistic projections, three to four years of faster job growth are required to bring the unemployment rate back down to the pre-recession. More forceful economic stimulus measures must be applied to prevent this Great Recession from turning into another Great Depression. Statement >>(read more)

Extension of the TANF Emergency Contingency Fund is Essential to Bringing More Jobs and Needed Financial Support to New York State

September 17, 2010. The very tight budget situations that state and local governments continue to face may force them to reduce or eliminate services for needy families. This brief shows that an extension of the TANF Emergency Contingency Fund will help New York and the other states to continue their safety net programs without ravaging other parts of their budgets.… (read more)

Poverty on the Rise in New York and Nation in 2009: Federal Assistance Lessened Recession’s Impact

September 16, 2010. The Census Bureau today released state-level data showing that the poverty rate in New York State rose dramatically from 14.2 percent in 2008 to 15.8 percent in 2009. The number of New Yorkers in poverty jumped by 284,000 to a little over three million. Only once since 1980 – from 1989 to 1990 – has the poverty rate risen more than it did in 2009. The new data also show that 2009 brought a large increase in … (read more)

The Great Recession Lingers in New York City and its Neighborhoods

September 15, 2010. Economic overview and outlook for New York City – a presentation by FPI’s deputy director and chief economist, James Parrott. Presentation >>(read more)

State of Working New York 2010: New York starting to see job growth but not yet recovery

September 5, 2010. While New York and the nation have begun to see some modest job growth, unemployment rates remain unacceptably high and recovery is not yet helping most New York workers. New York is hardly unique; from December 2007 through December 2009, the state lost 250,000 jobs, a 2.8 percent job decline. Forty states had even worse job performance over that period. Those with managerial/professional occupations are earning more in New York City, while those in non-managerial/non-professional occupations are … (read more)