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DiNapoli: Jobs in NYC Construction Industry Took Huge Hit During Pandemic, Over 14% Decline

The loss of 44,400 construction jobs due to the COVID-19 pandemic in 2020 was the state’s worst annual decline in the industry in more than 25 years, with more than half the losses coming from New York City, according to a report released today by State Comptroller Thomas P. DiNapoli. Construction was the city’s fastest-growing sector from 2011 to 2019, rising by 43.5 percent, until it was brought to a halt by the pandemic.

The Tourism Industry in New York City: Reigniting the Return

In 2020, the 10-year period of record growth in tourism came to an end, and the number of visitors to New York City fell by 67 percent to 22.3 million (from 66.6 million in 2019). OSC estimates the industry’s economic impact dropped by 75 percent from $80.3 billion in 2019 to $20.2 billion in 2020.

New York City Tourism Industry Hit Hard by Pandemic, Visitor Spending Drops by 73%

The COVID-19 pandemic abruptly halted tourism in New York City, one of the world’s top tourist and business traveler destinations, during parts of 2020, resulting in a dramatic falloff in the number of visitors and creating a steep drop in economic activity, according to a report released today by New York State Comptroller Thomas P. DiNapoli.

Metropolitan Transportation Authority’s Debt Profile

The MTA’s capital program for 2020-2024 totals $54.8 billion, by far the largest program in its history. As of December 31, 2020, only 100 of 517 projects had been completed or begun, and most of the rest of the program had been indefinitely suspended.

DiNapoli: $2.9 Billion Hole Threatens MTA’s Capital Program

New York State Comptroller Thomas P. DiNapoli’s annual report on the Metropolitan Transportation Authority’s debt levels found the MTA does not have the resources to fully fund its $54.8 billion 2020-2024 capital program, which is vital to improving riders’ experience and bringing them back to the transit system.

The Hotel Industry in New York City, June 2016

New York State’s hotel industry has experienced a decade of strong growth, driven by an increase in tourism. A record number of visitors (227.5 million) came to New York State in 2014, and a new record was likely set in 2015.

2020 Wall Street Bonuses, March 2021

The average bonus paid to employees in New York City’s securities industry grew by 10 percent in 2020 to $184,000, in line with the city’s most recent 9.9 percent projection, likely allowing the city to meet or exceed its income tax revenue projections in FY2021.

NYS Comptroller DiNapoli: Wall Street's 2020 Bonuses Rose Amid Volatility

The average bonus paid to employees in New York City’s securities industry grew by 10 percent in 2020 to $184,000, in line with the city’s most recent 9.9 percent projection, likely allowing the city to meet or exceed its income tax revenue projections in FY2021, according to annual estimates released today by New York State Comptroller Thomas P. DiNapoli.