Local Sales Tax Collections Drop 8.2 Percent in July
Sales tax collections for local governments in July totaled $1.3 billion, or $116 million less than in July 2019.
Economy
Local Sales Tax Collections Down 7.8 Percent in August
Local government sales tax revenue declined by 7.8 percent, or $111 million, in August compared to the same month last year.
Third Quarter 2020 Local Sales Tax Collections Down 9.5 Percent; New York City’s Decline Offsets Uptick in the Rest of State
Statewide local sales tax collections in the third quarter of 2020 declined by 9.5 percent, or $452 million, over the same quarter in 2019. This decrease, while alarming in a typical year, was still a marked improvement from the 27.1 percent drop in the second quarter, which reflected the peak of the economic impact to date from the COVID-19 pandemic.
Statewide Local Sales Tax Collections Decline 5.2 Percent in October
Local government sales tax revenue declined by 5.2 percent, or $74.4 million, in October compared to the same month in 2019.
New York’s Economy and Finances in the COVID-19 Era (December 2, 2020)
After losing more than 1.9 million jobs in March and April, New York State saw steady gains, averaging over 174,000 jobs in each of the following five months.
New York’s Economy and Finances in the COVID-19 Era (November 12, 2020)
Total employment in New York State fell in March, and again—much more sharply—in April, with a combined loss of more than 1.9 million jobs.
New York’s Economy and Finances in the COVID-19 Era (October 28, 2020)
New York State’s unemployment rate dropped to 9.7 percent in September, marking the first time the rate has been below 10 percent since the beginning of the COVID-19 pandemic.
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.
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.