Governor Cuomo continues to burn while pols in Washington fiddle around the issue of providing more aid to states and localities in yet another federal stimulus bill. Meanwhile, New York State's plummeting revenues still haven't hit their post-pandemic bottom, according to the First Quarterly Update to the state's FY 2021 Financial Plan. Read More
New York City's five municipal public pension funds ended their 2020 fiscal year with a net investment gain of 4.44 percent, well below their 7 percent assumed rate of return. That shortfall, reflecting the pandemic recession and its impact on financial markets, is expected to drive up the city's annual tax-funded pension costs by up to $200 million within the next three years. Read More
New York State’s biggest public pension lost money on its investments during the fiscal year that ended March 31—a completely unsurprising result, given the coronavirus crisis and its impact on financial markets in early spring. Read More
New York's Medicaid program is growing at its fastest rate in six years, with a quarter-million additional enrollees landing in the safety-net health plan during the first three months of the coronavirus pandemic. Read More
While New York's economy continued to ever-so-slowly recover in June, the Empire State's year-to-year percentage decline in private employment since the pandemic lockdown remained the worst in the continental U.S., according to the latest payroll establishment data from federal and state agencies. Read More
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