Economic Trends in New York State, February 2012
In the past two years, New York State has regained 46 percent of the jobs lost during the recession, but not all parts of the State have benefited equally.
In the past two years, New York State has regained 46 percent of the jobs lost during the recession, but not all parts of the State have benefited equally.
New York added more jobs in the past two years than previously reported, according to revised data from the New York State Department of Labor.
More than a decade ago, New York became the fourth state in the nation to extend in-state college tuition rates to undocumented immigrant students. Today, approximately 8,300 such students attend public institutions of higher education throughout New York.
New York State’s economy, like that of the nation, has taken a roller coaster ride since the start of the 21st century. The national recession of 2001 and its aftermath hit the Empire State with job losses proportionally larger than those in most states. Following more than five years of steady recovery from the 2001 downturn, New York was again hit hard by the Great Recession – losing more than 300,000 jobs in 2008 and 2009.
More than a decade ago, New York became the fourth state in the nation to extend in-state college tuition rates to undocumented immigrant students. Today, approximately 8,300 such students attend public institutions of higher education throughout New York.
In 1966, New York State voters approved an amendment to the New York State Constitution to authorize creation of the modern State Lottery. The Lottery now is an important contributor to State revenues, generating more than $3 billion last fiscal year.
The New York State Common Retirement Fund has a powerful, far-reaching impact on the economy of New York State.
Farms are an essential and diverse part of New York State’s economy, contributing significantly to employment, incomes and tax revenues across the Empire State.
Six years after the end of the Great Recession, economic growth continues across the United States and in New York. The State has enjoyed four consecutive calendar years of comparatively steady job gains after suffering a recessionary decline in 2009 and only slight growth in 2010.