Gotham Gazette

The Place for New York Policy and politics

Economy

Economy

  • federal aid nyc poverty

    Federal relief arriving (photo: Michael Appleton/Mayor's Office)


    Despite the coronavirus causing mass death, displacement, and unemployment last year, federal relief staved off the worst of its socio-economic effects and prevented a massive spike in poverty, new Census data revealed this past week.

    While incomes did decline and the national poverty rate increased marginally in 2020, a more expansive poverty measure that accounts for the effect of government programs showed a decrease as millions of people were kept from falling into poverty and

    ...
  • dep vic hpd

    Ribbon-cutting and more ahead (photo: Ed Reed/Mayoral Photography Office)


    It'd be foolish to bet against New York City, but a full and robust comeback from the COVID-19 crisis is not guaranteed without bold action. It’s increasingly clear that the city’s recovery isn’t like any other. Companies are delaying return to work plans, the 10.2% unemployment rate is among the highest of any major city in the country, and the rates of joblessness among New Yorkers of color and young adults are particularly alarming. 

    Meanwhile, no other city is coping with

    ...
  • NYC youth

    New York City youth (photo: Michael Appleton/Mayor's Office)


    The number of young adults who are both out of school and unemployed surged during the pandemic after declining for much of the past decade, a new report from the workforce development organization JobsFirstNYC confirmed.

    The analysis, commissioned by JobsFirstNYC and conducted by the analytics firm Chmura, crunched data from the Census Bureau's Community Population Survey to show 27% of 18-to-24

    ...
  • NYC resource fair growth

    City resources on offer (photo: Ed Reed/Mayor's Office)


    The New York City Inclusive Growth Initiative -- an effort organized by three major nonprofit groups -- this week released a “blueprint” of 50-plus recommendations for the next Mayor and City Council to guide an equitable recovery from the devastating covid pandemic. Noting the propensity for change during times of crisis and the history of disasters like Hurricane Sandy and the

    ...
  • idcnyc org

    At work (photo: icdnyc.org)


    Even before the COVID-19 pandemic struck, the U.S. unemployment rate for people with disabilities was 2.5 times higher than for those without. The pandemic has had a devastating effect on the employment and job prospects for people with disabilities, but New York’s business and nonprofit communities can play a vital role in the economic

    ...
  • library

    Hunters Point Community Library in Queens (photo: Michael Appleton/Mayor's Office)


    On Thursday the Center for an Urban Future published a report,  “Blueprint for New York City’s Economic Recovery,” outlining some 250 proposals for the future of the city and drawing upon the ideas of over 175 New Yorkers. A think tank, Center for an Urban Future focuses on securing a robust and inclusive economy.

    The report comes as the city is not only recovering from the devastation of the COVID-19 pandemic but selecting the next class of city government through the ongoing

    ...
  • city resource fair

    A city resource fair (photo: Benjamin Kanter/Mayoral Photo Office)


    According to the Mayor’s Office, the city experienced a growth of 100,000 jobs from December 2020 to March 2021, and expects to gain 400,000 more to reach a total of 4.5 million jobs by the end of 2021. Even as economic indicators have been headed in the right direction in recent months -- including significant job growth -- amid public vaccination, some easing of

    ...
  • our commercial afford

    (photo: Edwin J. Torres. Mayoral Photo Office)


    New Yorkers know that love of neighborhood is synonymous with love of small businesses. But in 2020, we suddenly learned just how thin the reserves of our shops, restaurants, and bars can be. Many New Yorkers responded by doubling down on that love of local; meanwhile, too many businesses felt deeply let down by their elected officials as they faced mounting rent debt and great uncertainty. And so when small business owners vote in June’s Democratic primary to elect the next mayor, many will be voting

    ...
  • open restaurants post

    Ourdoor dining (photo: @nycgov)


    In March of 2020, COVID-19 brought the pulse of our vibrant city to a devastating halt. New Yorkers were directed to stay in their homes, subways shut down and buses cleared out, offices closed, small businesses shuttered, and the vibrant action stopped in the restaurants that are so essential to our culture and quality of life.

    Now, I may be biased, but I believe that Brooklyn has some of the best food options the city has to offer -- and some of the hardest working service workers, too! So when businesses in

    ...
  • food center frank ies dot

    Outdoor dining (photo: @NYC_DOT)


    Surviving as a restaurant in New York City was never easy. But more than a year of indoor dining restrictions and the economic ruin of a global pandemic brought many restaurants that were able to hold on to the brink of bankruptcy. That is why we cheered when the city announced the permanent extension of the Open Restaurants program back

    ...
  • robotics tech class

    Robotics and tech ed (photo: Benjamin Kanter/Mayor's Office)


    With more than half-a-million New Yorkers out of work amid a painful economic downturn, the continued growth of tech positions stands out as a beacon of economic recovery. Connecting more residents with these jobs presents an important opportunity for the next mayor to get New Yorkers working again.

    Despite months of grim economic news, tech firms have continued to double down on New York City. Over the past year, companies including Google, Facebook, Apple, Amazon, and Netflix have signed new

    ...
  • stand up ny

    Stand Up NY


    Laughter brings people joy, something that we’ve been missing for so long in New York thanks to the shutdowns by Governor Andrew Cuomo. We need New York to heal. That’s why I convinced my friend Dani Zoldan, the owner of Stand Up NY, to sue the governor. 

    Prior to this lawsuit, Dani was putting on shows in parks and subway cars. He was working around the mandates imposed on small businesses by the governor and other elected representatives. Dani skirted the law and put on

    ...
  • 1 unveils vision airport

    Joe Biden in New York (photo: Kevin P. Coughlin/Office of the Gover nor)


    On a new episode of CUNY TV, host Bob Liff talks with four expert panelists -- former City Planning leader Carl Weisbrod, Assemblymember Amanda Septimo, Laura Nahmias of the Daily News Editorial Board, and Gotham Gazette editor

    ...
  • cele nyc open

    A ribbon-cutting (photo: Michael Appleton/Mayoral Photography Office)


    In this episode, we discuss the issues of the economy and jobs, and key aspects of what candidates in the 2021 New York City elections are considering, should be asked by voters, and more.

  • cm dromm grod

    Construction workers at work (photo: Emil Cohen/City Council)


    As our city stays focused on managing what we hope to be the final chapter of the COVID-19 pandemic, we also need to keep thinking proactively about driving a strong and just economic recovery.

    It’s no secret that in my Brooklyn district and across the five boroughs, there’s a long road ahead. Our official citywide unemployment rate is now hovering around 12%, with the highest jobless rates still in Brooklyn, Queens, and the Bronx.

    A recent report showed that year-to-date filings for new

    ...
  • media avail th

    Mayor de Blasio at his September announcement (photo: Ed Reed/Mayor's Office)


    New York City went into partial lockdown in March as the coronavirus ravaged the population, bringing a once booming economy to its knees and leaving the city teetering on the edge. The immense flock of tourists ground to a halt; the flow of suburban commuters reduced to a trickle; an untold number of residents fled the five boroughs; “non-essential” businesses were forced to shutter at least temporarily; and people were told to stay inside but for essentials. Many thousands fell

    ...
  • first deputy mayor dev corp

    (photo: Michael Appleton/Mayoral Photography Office)


    We’ve all been watching events in Washington, D.C. with horrified amazement and trepidation. 

    Regardless of Washington, New Yorkers have work to do at home. We’ve been living through a pandemic for just about a year. Everyone in New York is aware we face major budget crises at the state and city levels. Resolution of our fiscal problems is one of the biggest

    ...
  • gov cuomo delivers

    Gov. Cuomo during his second 2021 SOTS speech (photo: governor's office)


    In his second of four planned State of the State speeches this week, Governor Andrew Cuomo on Tuesday outlined a plan to revive New York’s struggling economy, get New Yorkers back to work, and to prepare them for jobs that adapt to a post-covid future.

    In his first speech on Monday, Cuomo presented a broad

    ...
  • compt di hold

    An opportunity for workers in an old law (photo: Michael Appleton/Mayor's Office)


    As several cities begin to shutdown again with the hope of slowing the spread of COVID-19, we’re reminded of the timeless words “certain unalienable rights, that among these are life, liberty and the pursuit of happiness.” I’m interested in the unique opportunity to evaluate how that third unalienable right — the pursuit of happiness — matches with the reality of today’s world and steps we can take to improve opportunities for people to pursue and achieve their definition of happiness.

    For Americans, it

    ...
  • 1 nycsbs

    SBS Commissioner Doris at a small business (photo: @NYC_SBS)


    Frustrated City Council members and hopeful––yet weary––small business advocates took to a hearing Tuesday to express their concerns about the Open Storefronts program launched recently by Mayor de Blasio after outcry from the business community, particularly smaller retailers. Small businesses, many of which are struggling to hold on if they haven’t already closed due to the pandemic and a lack of government help, can enroll in the program that, as of now, will give them through December 31 to sell their merchandise

    ...
  • steve bellone long island business

    Steve Bellone, the author/left, at a local business (photo: @SteveBellone)


    To say that 2020 has been a rough year for New Yorkers would be the understatement of the century. COVID-19 hit us like a mack truck, with the greater New York City metropolitan area suffering the worst.

    Working with Governor Cuomo, we quickly sprang into action to flatten the curve and save lives with a shutdown. But it did not come without a steep toll on our economy and small businesses. After months of strict shutdown rules, New Yorkers finally began to see a light at

    ...
  • pow mov ya

    DNJ Mechanical Corp. moving into Maspeth (photo: BOC Network/Maspeth Industrial Business Association)


    As we get deeper into the current crisis, it’s becoming clearer that New York won’t simply bounce back to “normal.” We need effective strategies to transform our city’s infrastructure and economy. Policies aimed at protecting and growing industrial jobs can improve not only our citywide economy, but the nearby low-income residential communities and the lives of the predominantly of-color manufacturing workforce.

    As industrial business service providers, we ask our current and

    ...
  • cuny laguardia com

    CUNY Chancellor Matos Rodriguez and students, pre-pandemic (photo: City University of New York)


    College seniors who graduated this June faced a very different economic landscape from the one they saw at the beginning of the school year. A global pandemic shattered the job market, and many industries — including the performing arts, entertainment, restaurants, and hospitality and tourism — were in complete freefall after government-mandated closures. 

    The widespread financial strain that saw unemployment in New York City skyrocket from 4% to well over 20%

    ...
  • bor haller bk

    Eric Adams at a Brooklyn business (photo: @BKBoroHall)


    At the height of the pandemic New York City did the unthinkable in the city that never sleeps: it closed up shop. To stop the spread and protect lives, we shut down everything—including the tens of thousands of small businesses that are the backbone of our local economy.

    The sacrifice was immense. New Yorkers gave up their livelihoods and put their American dreams on hold. Some lost everything.

    It did not have to be this way. One good thing that Washington did during the crisis was to fund a lifeline for small

    ...
  • fl cmc do

    CUNY grads (photo: Edwin J. Torres/Mayoral Photography Office)


    New York City Comptroller Scott Stringer proposed a plan Wednesday to revamp the city's workforce development strategy, including by making CUNY community colleges tuition-free and expanding job training opportunities for people at career crossroads.

    The pandemic has decimated jobs in New York City -- with unemployment at roughly 16%, though some estimates say the “real” figure is much higher -- and shifted forecasts about the future of industries across the board. Advocates and policymakers are looking for ways to

    ...