Reports

As DEC now enters its second half-century, its mission is broader than ever before. Wide-ranging laws to address climate change and major initiatives to assure clean drinking water are just some of the new tasks DEC has been assigned in the last few years, adding to an already long list of environmental planning, regulatory and management programs — all of which are important to our quality of life and the State’s economy.

The economic outlook contained in the Governor’s Executive Budget proposal for State Fiscal Year 2021-22, released this week, anticipates continuing but slow improvement for employment and other economic indicators, as well as tax revenues.

New Yorkers’ average student loan balance rose by 3.9 percent from the previous year to $37,600 as of June 2020, according to newly available data from the Federal Reserve Bank of New York.

This snapshot highlights the FSMS results for school districts that reported for school fiscal year (SY) 2019-20, which ended on June 30, 2020, which included the period of the statewide mandatory school shutdown from March 18 through the end of the school year. The snapshot also discusses some of the major fiscal stress risk factors posed by the pandemic for school districts in SY 2020-21 (not yet scored).

The economic, social and budgetary fallout from the COVID-19 pandemic in New York City has been unprecedented, while the loss of life has been unimaginable. As we enter 2021, the pandemic remains a threat to our health and economy as we face rising case and hospitalization figures as well as renewed restrictions to manage the public health risks.

In the second quarter of 2020, total wages paid in New York State declined by $12.5 billion or 7.4 percent in comparison to the second quarter of 2019, according to new data from the U.S. Bureau of Labor Statistics (BLS).

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. 

In Federal Fiscal Year 2019, New York State generated $23.7 billion more in federal taxes than it received in federal spending. In total dollars, New York’s deficit was the highest among the 50 states. For every tax dollar paid to Washington, our State received 91 cents in return—well below the national average of $1.24.

Excel file with supporting data | Data Visualization

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.

The Office of the State Comptroller estimates that the State’s tax revenues will decline by 5.6 percent or $4.7 billion in SFY 2020-21 compared to the previous year. Such revenues are projected to grow by 1.6 percent in SFY 2021-22, and to increase by 4.3 percent in SFY 2022- 23

Many New Yorkers enjoy buying Lottery tickets and taking a chance on a big prize. Some play the slot machines and other games in the State’s eight Video Lottery Terminal (VLT) facilities, four commercial casinos and seven Native American casinos. Sports wagering and interactive fantasy sports are now part of the gambling picture, and traditional betting on horses continues at racetracks and off-track betting locations.

The COVID-19 pandemic has created a fiscal emergency for the City of New York, creating significant revenue shortfalls and increased costs associated with managing the public health crisis.

The impact of the COVID-19 pandemic on school district operations has been substantial, driving unprecedented changes to many core functions and processes, including the annual school budget vote. For district-level information: https://www.p12.nysed.gov/mgtserv/votingresults/

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.

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. 

The Metropolitan Transportation Authority (MTA) is facing the greatest challenge in its history.

The Comprehensive Annual Financial Report for the New York State and Local Retirement System (the System or NYSLRS) for the fiscal year ended March 31, 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.

This report on the use of overtime by New York State agencies examines patterns over the past ten calendar years. The total cost of overtime in calendar year 2019 was over $806 million, covering roughly 18.4 million overtime hours worked.

The 2019-20 fiscal year brought the convergence of two dramatically different periods to New York State. The nation’s longest recorded economic expansion continued to generate overall job growth through most of the fiscal year before finally ending in February, as the COVID-19 pandemic forced severe limits on business activity and significantly impacted the State’s economy.