Economy

An Economic Snapshot of Staten Island's North Shore

The North Shore, for many the gateway to Staten Island, has led the borough in population growth since 2010. The North Shore is located just north of the Staten Island Expressway and serves as an important freight and commuting hub. The area accounts for more than one third of the Staten Island population and its residents tend to be younger and more racially diverse than in other parts of the borough.

New Yorkers in Need

The Office of the State Comptroller issued five reports examining “New Yorkers in Need.” These publications provide a fact base for understanding the local and demographic variations in need; explain the implications of lived poverty, food insecurity and housing instability; and make recommendations for bolstering the federal safety net and improving State efforts.

Performance of Industrial Development Agencies in New York State – 2024 Annual Report

This report summarizes data for fiscal year 2022, the most recent data reported by IDAs through the Public Authorities Reporting Information System. The report also contains a brief discussion of local development corporations, a related type of local authority. For regional and IDA-level summary data, see our Interactive Map.

Tracking the Return: The Tourism Industry in New York City

New York City’s tourism sector is approaching a complete recovery as visitor spending and related tax revenue have surpassed pre-pandemic levels. The City now estimates it will exceed pre-pandemic levels and welcome a record 68 million visitors by 2025. The number of visitors had reached a previous record of 66.6 million in 2019 before the COVID-19 pandemic devastated this thriving industry, resulting in a 66.5% decline in visitors to 22.3 million in 2020.

2024 Update on New York City Staffing Trends

New York City’s full-time government workforce is expected to increase for the first-time year-over-year since the COVID-19 pandemic. However, high turnover and vacancy rates exist at several City agencies. The City should continue efforts to increase and expedite hiring where needed to ensure critical agencies and departments can meet demands and provide quality services to residents.

Food Insecurity Persists Post-Pandemic

Food insecurity is increasing in New York, with one-in-nine households (11.3% or 875,000 families) unable to get enough food at some point during 2020 through 2022 because they lacked money or other resources. Nationally, food insecurity increased for the first time in over a decade to 11.2% during 2020 through 2022. With the end of the pandemic, many of the enhancements to federal safety net programs also ended. Additional federal and state efforts are needed to address food insecurity.

Local Sales Tax Collections Increase by 1.6 Percent in the First Quarter of 2024

Local government sales tax collections in New York State totaled $5.6 billion in the first calendar quarter of 2024, up 1.6 percent (or $87.3 million) compared to the same quarter last year. While this marked the lowest rate of growth since the same quarter in 2021, it is important to note that where were several quarters of under 2 percent growth in the two decades prior to the pandemic. New York City’s 3.2 percent increase in first quarter collections was responsible for nearly all statewide growth.

New York City's Uneven Recovery: Foreign-Born in the Workforce

The size of New York City’s immigrant workforce was flat over nearly a decade. Through 2023, the foreign-born labor market grew 18.5% since 2015 nationally, while New York City’s declined 0.6%, according to data analyzed from the Bureau of Labor Statistics. Still, in 2023, New York City’s 1.8 million foreign-born workers made up 44.3% of its total labor force, more than double the national share of 18.6%.

One Page Summary: Foreign-Born in the Workforce in NYC