New York’s Economy and Finances in the COVID-19 Era (October 14, 2020)
While all states have lost employment since the COVID-19 pandemic struck earlier this year, New York surpasses almost every other in both number and percentage of job losses.
Reports
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reports
New York’s Economy and Finances in the COVID-19 Era (September 30, 2020)
Six months into the COVID-19 recession, New Yorkers working in lower-paid sectors continue to suffer a disproportionate share of job losses statewide and especially in New York City.
New York’s Economy and Finances in the COVID-19 Era (September 2, 2020)
While New York State has regained more than one in four of the jobs it lost in March and April, the unprecedented scale of losses due to the COVID-19 pandemic leaves a daunting path ahead for the State to climb back to pre-recession employment levels. For New York City, the picture is even more troubling.
New York’s Economy and Finances in the COVID-19 Era (August 19, 2020)
New York State’s total employment count hit an all-time high of more than 9.8 million in February, reflecting net gains of nearly 2 million jobs since April 1996.
New York’s Economy and Finances in the COVID-19 Era (August 5, 2020)
Nearly three-quarters of New York State small businesses received assistance in recent months through the federal government’s Paycheck Protection Program (PPP), according to Census Bureau survey data for the week ending June 27.
New York’s Economy and Finances in the COVID-19 Era (July 22, 2020)
Approved payments to New York recipients for Unemployment Insurance totaled $32.1 billion from March 1 through July 17, with steep increases in payments following the onset of the pandemic.
New York’s Economy and Finances in the COVID-19 Era (July 9, 2020)
As was widely reported, New York’s unemployment rate has soared upward in recent months, with May's 14.5 percent nearly four times the 3.7 percent in February. But that rate is only one measure of the impact of lost jobs.
Local Sales Tax Collection Drops Over 32 Percent in May
Sales tax revenue for local governments in May totaled $918 million, or $437 million less than 2019. The sharp decline in revenues was widespread around the state, ranging from a drop of 19.5 percent in Westchester County to a 41.5 percent decline in Tioga County.
Under Pressure: Local Government Revenue Challenges During the COVID-19 Pandemic
Our State’s local governments are being tested on many fronts as a result of the COVID-19 Pandemic. This report will examine some of the major risks to these revenue sources, the dependence of local governments on each, and the effects of federal government actions to help keep local governments afloat thus far.
Fiscal Stress Monitoring System - Municipalities: Fiscal Year 2019 Results; Fiscal Year 2020 Risks
This snapshot highlights the results for counties, cities, towns and villages that reported for local fiscal years ending (FYE) 2019. These scores, therefore, provide a baseline for local government fiscal preparedness in the period just prior to the pandemic.