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DiNapoli: Nearly 14% of New Yorkers Live in Poverty; Surpasses National Average for Eight Straight Years

Almost 2.7 million New Yorkers, or 13.9% of the state’s population, lived in poverty in 2021, compared to 12.8% of all Americans, according to the first in a series of reports released today by State Comptroller Thomas P. DiNapoli examining “New Yorkers in Need.” While poverty rates in the state declined prior to the pandemic, they were higher in 2021 than in 2019. New York ranked 13th among all states and had a higher rate of people in poverty than neighboring states and most large states.

State Contract and Payment Actions in October

In October, the Office of the State Comptroller approved 1,555 contracts for state agencies and public authorities valued at $1.5 billion and approved more than 2.9 million payments worth nearly $11.8 billion. The office rejected 143 contracts and related transactions valued at $267 million and nearly 1,800 payments valued at nearly $13.4 million, primarily for mistakes, insufficient support for charges, and improper payments. More information on these contracts and payments is available at Open Book New York.

DiNapoli: State Pension Fund Valued at $233.2 Billion at End of Second Quarter

New York State Comptroller Thomas P. DiNapoli today announced that the estimated value of the New York State Common Retirement Fund (Fund) was $233.2 billion at the end of the second quarter of the state’s fiscal year. For the three-month period ending Sept. 30, 2022, Fund investments returned an estimated -3.85%.

DiNapoli: New York's Labor Force Decreased Sharply During the Pandemic and Remains Below Pre-Pandemic Peak

New York’s labor force is one of the nation’s largest, but it decreased by 1% between 2011 and 2021 while the rest of the nation increased by 5.1%, according to a report released today by State Comptroller Thomas P. DiNapoli. A rebound took place in the latter half of the last decade before dropping significantly with the onset of the COVID-19 pandemic. New York continued to lose workers in 2021 when the rest of the nation began to recover.

New York's Labor Force: Assessing 10-Year Trends and Pandemic Setbacks

New York’s labor force is one of the nation’s largest, but it decreased by 1% between 2011 and 2021 while the rest of the nation increased by 5.1%. DiNapoli’s report assess the pandemic's impact and long-term trends in the workforce, including by age, education level, race and ethnicity, disability, and unionization status. While New York’s labor force is large, diverse and well-educated, attention should be paid to its underlying structure to attract and retain workers.

DiNapoli: Halfmoon Resident Allegedly Stole Deceased Mother's Pension Payments

State Comptroller Thomas P. DiNapoli, Saratoga County District Attorney Karen A. Heggen, the New York State Police and the New York State Department of Motor Vehicles today announced Christmas Fish of Halfmoon, N.Y. has been charged with grand larceny for allegedly stealing nearly $13,000 of her deceased mother’s pension benefits.

DiNapoli: Problems Caused by Outdated System Left State's Unemployment Insurance Program Vulnerable to Fraud

The state Department of Labor’s (DOL) failure to replace its long-troubled Unemployment Insurance (UI) system and ad hoc workarounds to compensate for the old system weakened oversight and ultimately contributed to an estimated billions of dollars in improper payments during the COVID-19 pandemic, according to an audit released today by State Comptroller Thomas P. DiNapoli.

State Contract and Payment Actions in September

In September, the Office of the State Comptroller approved 1,465 contracts for state agencies and public authorities valued at $2.9 billion and approved more than 2.2 million payments worth more than $14.9 billion. The office rejected 123 contracts and related transactions valued at $348 million and more than 8,700 payments valued at more than $11.8 million, primarily for mistakes, insufficient support for charges, and improper payments. More information on these contracts and payments is available at Open Book New York.