Economic Outlook

New Laws Raise Minimum Wage; Cut Taxes, Business Costs

December 27, 2018.  Several new laws effective Jan. 1 will impact family budgets while trying to improve New York State’s business climate. “Given the damaging and destructive tax and budget policies coming out of Washington that seem to target poor and working class families, it’s good to know that our state has some countermeasures in place that actually help struggling New Yorkers,” said Ron Deutsch of the Fiscal Policy Institute, a labor-backed group that lobbies for the working poor.   Access to Full Article HERE

2021-01-08T09:49:17-05:00December 27th, 2017|Economic Outlook, FPI in the News|

Brian Talks New York – Trump to NY: Drop Dead

December 14, 2017. Ron Deutsch, FPI's Executive Director, got to go on Brian Talks New York which is anchored by Peabody Award-winning public radio host Brian Lehrer. Each week Brian and his guests from academia, journalism and politics analyze the latest news in Brian's home town of NYC. The segment is on How's the Trump tax reform bill likely to hit New Yorkers, rich, middle class and poor? Joining Brian’s panel of experts, AFL-CIO chief economist William Spriggs, Empire Center for Public Policy research director [...]

2021-01-08T09:47:44-05:00December 14th, 2017|Economic Outlook, FPI in the News|

PolitiFact: Cost estimates of ending worker program vary widely

November 25, 2017. This Politifact article is assessing the claim by U.S. Rep. Joaquin Castro. He tweeted that the United States would lose $164 billion in GDP over a decade if they terminated Temporary Protective Status (TPS). TPS is a status for immigrants from countries experiencing armed conflict, natural disasters, epidemics and other temporary conditions preventing the safe return of their citizens. This status provides immigrants with TPS work authorization and protection from deportation, but does not include a pathway to citizenship. The Trump administration [...]

2021-01-08T09:44:55-05:00November 25th, 2017|Economic Outlook, FPI in the News|

Experts: Studies Show Refugees are Key to Stabilizing Declining Rust Belt Cities Like Syracuse

October 26, 2017. This article discusses the Welcoming Economies Convening that was held in Syracuse, New York, a coalition of public and business leaders who are dedicated to resettling refugees. These organizations are aware of the economic contributions of refugees such as the reversal of population decline and job creation. These groups came together at the convening to discuss how to further accelerate and help grow their economic contributions. Fiscal Policy Institute's Immigration Research Director David Kallick. "When we're talking about growth, we have to talk about [...]

2021-01-08T09:32:37-05:00October 25th, 2017|Economic Outlook, FPI in the News|

NY Daily News: NYC jobs market booming under Cuomo — but for rest of state, it’s a different story

NEW YORK DAILY NEWS By Jim Heaney and Charlotte Keith Saturday, April 1, 2017, 12:47 PM Job creation in New York State under Gov. Cuomo is akin to a tale of two cities. There is New York City — and everyplace else. New York City added some 600,000 jobs since Cuomo took office in 2011. That's a 16% jump, well above the national average of 11% and better than all but five states. Job growth is more modest elsewhere in the Empire State — and [...]

2021-01-07T12:49:34-05:00April 7th, 2017|Blog, Economic Outlook|

Will Trump’s Immigration Policies Wreck The Construction Industry?

April 4, 2017.  FPI's, David Dyssegaard Kallick, was quoted in an article arguing that Trump's immigration policies could have significant implications on industries heavily populated with immigrant workers, such as the construction industry. The article argues that Trump's policies instill fear in workers, create abuse and will create a decline in workers in the construction industry For industries traditionally populated by immigrants, like construction, the policies could have significant implications. The uncertainty surrounding how these orders will play out nationally and even in cities like [...]

2021-01-07T12:50:45-05:00April 4th, 2017|Blog, Economic Outlook|

A Grand Alliance to Save Our Public Postal Service

May 12, 2016. The U.S. Postal Service (USPS) is under attack by forces that favor privatization and oppose sensible proposals to invest in expanding its package delivery services and in re-introducing postal banking services that exist in many countries and that were provided in the United States from 1910 to 1966. With the Postal Service’s unparalleled network of post offices in every neighborhood and village in the country, postal banking has the potential to provide affordable, consumer-friendly financial services to lower-income households and communities that [...]

New York State Economic and Fiscal Outlook FY 2017

February 3, 2016. In its 26th annual New York State budget briefing book, the Fiscal Policy Institute analyzes and comments on Governor Andrew Cuomo’s FY 2017 Executive Budget. The Executive Budget advances some bold and progressive proposals that well reflect the values and needs of New Yorkers. In particular, the governor has shown great leadership and vision in forcefully advocating for a first-in-the nation statewide $15 minimum wage. If enacted, the minimum wage increase would lift the incomes of 3.2 million New Yorkers who desperately [...]

Business profits in New York State have grown much faster than wages since 2001

December 1, 2015. In a new analysis, the Fiscal Policy Institute finds that business profits per worker in New York State increased by 61% from 2001-13, while labor compensation per worker has risen by only 34%, and the typical worker received wage increases of 25-29%, much less than inflation. James Parrott, the Institute’s Deputy Director and Chief Economist stated: “These data confirm once again that most workers in New York have not been sharing in the fruits of the state’s economic growth over the past [...]

New York City’s Recovery Finally Starts Generating Wage Gains

April 13, 2015. In this report, FPI's analysis shows that New York City's recovery is finally starting to generate wage gains. After years of wage and family income declines since the 2008-09 recession, several signs are emerging of real wage growth in New York City. The three major current government economic data sets all point to fairly widespread and firmly-established wage growth beginning in 2014. Bureau of Labor Statistics (BLS) average private hourly earnings data show a 2.7 percent real gain for the six months [...]

Wage Standards are Key to Reversing the Erosion of Wages and Living Standards in New York City

December 16, 2014. Despite considerable growth in the New York City economy over the past two decades, very little of that growth has trickled down to the average worker and his or her family, according to our new report. Wage standards like the minimum wage and the living wage are critical in ensuring that there is a floor under the job market and that workers are adequately paid. Prevailing wage standards, however, are a key means to ensure that skilled labor provides a path into [...]

Economic and fiscal impacts of proposed consolidations involving 5 postal facilities

November 10, 2014.  The American Postal Workers Union asked FPI to estimate the net economic and fiscal impacts of proposed consolidations involving five postal facilities around the country. The proposed consolidations were part of a nationwide “cost-savings” plan that would have further slowed mail delivery times. One of these involved a proposal to downsize sorting operations at the mail processing center in Newburgh, New York, in the lower Hudson Valley and to consolidate these operations at the Albany processing and distribution facility, 90 miles away. [...]

Briefing on Mayor deBlasio’s Preliminary FY 2015 NYC Budget: Initial Progressive Steps, More to Come

March 11, 2014. In his review of NYC Mayor Bill deBlasio’s first budget, FPI’s James Parrott notes the new mayor’s progressive change in direction compared to prior City budgets. Not surprisingly, the major new initiative included in the Preliminary FY 2015 budget is full funding for the UPK/afterschool proposal scheduled for launch in the fall of 2014. The briefing summarizes trends in state and federal aid, and analyzes projections for tax revenue growth. Parrott describes the municipal labor contract situation as a challenge but not [...]

New Report Examines Shale Drilling Impact

November 21, 2013. Drilling in the six states that span the Marcellus and Utica Shale formations has produced far fewer new jobs than the industry and its supporters claim, according to a report by the Multi-State Shale Research Collaborative, a group of research organizations tracking the impacts of shale drilling that includes the Fiscal Policy Institute. The Marcellus and Utica shale formations span six states: New York, Ohio, Pennsylvania, West Virginia, Maryland, and Virginia. Natural gas development in these six states was fueled by high [...]

The Taxpayer Costs of Low-Wage Fast Food Jobs in New York State

October 16, 2013. Fast food jobs are by far the biggest source of job growth in New York State and New York City in this recovery and over the past decade. But, with a median hourly pay of only $8.90 an hour in NYC, this growth in fast food jobs is one of the reasons that poverty has risen sharply during the recovery. NYC has a record number of working poor—one out of every 10 workers in NYC works, but can’t earn enough to lift [...]

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