"The state budget makes important investments in education and health care, including mental health care, and provides significant, recurring funding to the MTA that will help close budget gaps.
Local government sales tax collections in New York State totaled $5.5 billion in the first quarter of 2023, an increase of 7.1%, or nearly $369 million, compared to the same three-month period last year.
The onset of the COVID-19 pandemic placed an outsized strain on parents as schools and child care centers closed to mitigate the spread of the virus. Nationally, mothers in the workforce experienced a larger increase in unemployment than fathers. While New York City saw a different trend initially, in 2022 the previously strong job gains for women with children slowed compared to their male counterparts (see Figure 1).
New York’s Paid Family Leave (PFL) provides paid time off for eligible employees for bonding with a newborn, or newly adopted or foster child or to care for a family member with a serious health condition. Payments under PFL rose steadily between 2018 and 2021 as the amount of allowable time off and weekly cash benefits increased. Almost eight million workers were covered under PFL, with $872 million paid on approximately 156,000 claims in 2021.
New York State Comptroller Thomas P. DiNapoli released the following statement on Mayor Adams' executive budget for Fiscal Year (FY) 2024:
Allowing New Yorkers to care for loved ones.
As New York City’s overall taxable sales begin to normalize from their pandemic-fueled levels, various economic sectors, most notably leisure and hospitality, continue to recover their pandemic declines. As national retail sales growth slows from its double-digit pace of 2021, City retail sales and associated revenues could see a return to historical growth rates following the next two fiscal years.
DiNapoli: Our industry sector dashboards tell the story of New York City’s comeback.
