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NYC’s 13.2% Unemployment Rate 3.6 Points Higher Than 2019
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New York City’s Uneven Recovery: Youth Labor Force Update
Young workers in New York City between the ages of 16-24 continued to face a high 13.2% unemployment rate in 2024, which was 3.6 points higher than in 2019 and higher than all other age groups. Potential federal funding cuts to education and workforce development grants, as well as a looming economic recession, may weaken job prospects for young people.
DiNapoli: State Pension Fund Investments Return 5.84% for State Fiscal Year 2024-25
New York State Comptroller Thomas P. DiNapoli today announced that the New York State Common Retirement Fund’s (Fund) investment return was 5.84% for the state fiscal year that ended March 31, 2025. The Fund closed the year with an estimated value of $272.8 billion.
DiNapoli: Youth in NYC Face Double Digit Unemployment Rate
Young workers in New York City between the ages of 16-24 continued to face a high 13.2% unemployment rate in 2024, which was 3.6 points higher than in 2019 and higher than all other age groups, according to a report issued by New York State Comptroller Thomas P. DiNapoli. Despite significant improvement in 2023, the city’s youth unemployment rate was higher than the national rate.
MWBE 2024-2025 Fiscal Year Report
The New York State Minority- and Women-Owned Business Enterprise (MWBE) Asset Management and Financial Institution Strategy (Chapter 171, Laws of 2010) was enacted to codify and replicate best practices for providing MWBEs that are asset managers, investment banks and financial and professional service providers with the opportunity to offer services to fiduciary-controlled entities established by New York State law.
Prompt Payment Interest Report: State Fiscal Year 2024-25, May 2025
For State Fiscal Year (SFY) 2024-25, agencies paid vendors $4,258,793 in interest primarily due to delays in encumbrance processing, agency backlog or agency processing delays.
State Comptroller DiNapoli Releases Audits
New York State Comptroller Thomas P. DiNapoli announced today the following audits have been issued.
DiNapoli: Former Essex County Fair Treasurer and Willsboro Town Clerk Pleads Guilty to Stealing Nearly $90,000 From the Essex County Agricultural Society and Town
State Comptroller Thomas P. DiNapoli, Franklin County District Attorney Elizabeth Crawford and New York State Police Superintendent Steven G. James announced that Bridget Brown, the former treasurer of the Essex County Agricultural Society and former Willsboro town clerk/tax collector, pleaded guilty to stealing nearly $90,000 in funds from the society and the town.
DiNapoli Op Ed in Times Union
The Times Union published an op ed by New York State Comptroller Thomas P. DiNapoli on the need for tougher oversight of governments use of Artificial Intelligence (AI) systems:
Artificial intelligence has the potential to transform how government operates and delivers services. New York state agencies have used AI companions to help seniors combat social isolation, and the Department of Motor Vehicles is using facial recognition technology to deter identity fraud.