State of Working New York 2011, Part II: Great Recession takes a $31 billion toll on New Yorkers
November 29, 2011. New data show that New York families face smaller incomes, fewer opportunities, more hardship. The Fiscal Policy Institute’s 2011 annual edition of the State of Working New York examines how bad the Great Recession and the not-so-great “recovery” have been for the wages and incomes of typical New Yorkers. Of the 504,000 jobs lost, 80 percent are wage and salary positions, and about 20 percent represent fledgling businesses that haven’t been started because of the difficult economic climate. Median household incomes in New York State fell by 3.2 percent from 2007 to 2010, and weekly earnings have fallen for New York workers in the bottom half of the pay spectrum. Press release >> and full report >>
Also see the State of Working New York, Part I, which shows that two years into the “recovery,” one in seven New Yorkers is out of work.