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The Technology Sector in New York City, October 2022

Technology sector employment in New York City increased by 33.6% (43,430 jobs) from 2016 to 2021 to reach a record high of 172,570 jobs. The city’s private sector lost 3.3% of jobs during this same period. Businesses in the tech sector also grew, accounting for 22.3 percent of the City’s total private firms added during the same period. Most of these firms consisted of fewer than 10 employees and contributed to the citywide growth in microbusinesses during the pandemic.

DiNapoli: NYC’s Tech Boom Partially Offset City's Pandemic Job Losses

Jobs in New York City’s technology sector grew over the course of the COVID-19 pandemic, while most other economic sectors suffered job losses, according to a report released today by State Comptroller Thomas P. DiNapoli. The report found that tech sector employment in New York City increased by 33.6% (43,430 jobs) from 2016 to 2021 to reach a record high of 172,570 jobs. The city’s private sector lost 3.3% of jobs during this same period.

DiNapoli Releases Bond Calendar for Fourth Quarter

New York State Comptroller Thomas P. DiNapoli today announced a tentative schedule of planned bond sales for New York State, New York City and their major public authorities during the fourth quarter of 2022.

The planned sales of $5.65 billion include $5.43 billion of new money and $216 million of refundings and reofferings as follows:

Financial Outlook for the Metropolitan Transportation Authority - October 2022

Over the last year, the fiscal position of the MTA has deteriorated, as transit ridership continued to lag at the low end of the authority’s projections. The MTA has two years to bring back riders and rebuild fare revenue before federal aid runs out. In the meantime, it must develop plans to cover budget gaps that start at $2.5 billion in 2025.

Focus on Identity Theft

 

You probably know or have heard about someone whose personal information was stolen to file false unemployment claims or credit card applications or to gain access to bank or social media accounts. The consequences of identity theft can be devastating for victims, ranging from having to rebuild a ruined credit history to having trouble renting an apartment or buying a home, obtaining a tax benefit or receiving a loan.

DiNapoli: MTA Outlook Shows Growing Need for New Funding as Budget Gaps Widen

The Metropolitan Transportation Authority (MTA) has two years to bring back riders and rebuild fare revenue before federal relief aid runs out, but in that time, it must develop plans to cover budget gaps that start at $2.5 billion in 2025 and grow in the outyears, according to a report on MTA’s financial outlook released today by New York State Comptroller Thomas P. DiNapoli.