New York Employment Impacts from Medicaid Cuts

May 22, 2025 |

Key Findings
  • Governor Hochul recently released estimates indicating that the current House Republican reconciliation proposal would result in over $10 billion in lost federal funding for New York’s healthcare system.
  • A reduction of $10 billion in federal Medicaid funding would result in the direct loss of over 78,000 jobs in healthcare across the state and over 136,000 additional jobs lost through economic spillovers.
    • Overall, New York could lose a total of 215,000 jobs, over 2 percent of the State’s employed workforce.
    • Losing 78,000 jobs in healthcare and social assistance would be an overall decline in healthcare and social assistance jobs of 4.4 percent.
  • New York City alone stands to lose over $5.4 billion in federal Medicaid funding, resulting in total job losses of approximately 116,000 (direct and economically induced).
Published On: May 22nd, 2025Categories: Blog, Economic Trends & Policy, Healthcare

New York Employment Impacts from Medicaid Cuts

May 22, 2025 |

Key Findings
  • Governor Hochul recently released estimates indicating that the current House Republican reconciliation proposal would result in over $10 billion in lost federal funding for New York’s healthcare system.
  • A reduction of $10 billion in federal Medicaid funding would result in the direct loss of over 78,000 jobs in healthcare across the state and over 136,000 additional jobs lost through economic spillovers.
    • Overall, New York could lose a total of 215,000 jobs, over 2 percent of the State’s employed workforce.
    • Losing 78,000 jobs in healthcare and social assistance would be an overall decline in healthcare and social assistance jobs of 4.4 percent.
  • New York City alone stands to lose over $5.4 billion in federal Medicaid funding, resulting in total job losses of approximately 116,000 (direct and economically induced).
Published On: May 22nd, 2025Categories: Blog, Economic Trends & Policy, Healthcare