The latest federal estimates of the 2014-15 change in Gross Domestic Product (GDP) by metropolitan area provide a fresh perspective on upstate New York's persistent economic weakness.
With a real (inflation-adjusted) GDP gain of 2 percent—good enough to rank 154 out of the nation's 382 largest metros—Albany-Schenectady-Troy was upstate New York's fastest-growing area last year, according to preliminary estimates from the Commerce Department's Bureau of Economic Affairs (BEA). The average GDP growth for all U.S. metro areas was 2.5 percent. [Read_more]
New York's preliminary employment numbers August were a near-repeat of July: private-sector job creation in the Empire State trailed the national average, with nearly all the net gains concentrated in New York City and its surrounding suburbs. [Read_more]
Republicans never held more than 58 of the 150 seats in New York State Assembly during Clarence D. “Rapp” Rappleyea’s 12 years as their minority leader. Yet Rappleyea, who died Sunday at age 82, was among the most consequential New York State legislative leaders of the 20th century. [Read_more]
The Empire State's largest public pension plan still has not fully recovered from the financial crisis and Great Recession of 2008-09, a new report from the state comptroller's office confirms. [Read_more]
State Comptroller Thomas DiNapoli has just issued a report confirming what employment statistics have been showing: upstate New York's economy has lagged behind the nation and downstate regions for years now. [Read_more]