When Kodak its latest round of mass layoffs yesterday, the company's in Rochester gave the news prominent play on its web page — right next to an reporting that the city "has finally received approval on a $4 million state grant for Rochester’ Read More
Tag: Economy
New York City's economy contracted 5.5 percent in the fourth quarter from the same period a year earlier, after a 2.7 percent contraction in the third quarter, according to the . The most recent figure is the worst in the nearly two decades since th Read More
NYU prof Thomas Philippon and U-VA Prof Ariell Reshef have written a tracing the trajectory of wages in the American financial sector over the last century. Not surprisingly, financial-industry wages broke away from the rest of the economy starting i Read More
For New York, it's not paying (anymore) to be home to the smartest guys in the room. Since its credit-bubble peak, the securities industry has cut 3.1 percent of its jobs nationwide, according to the Securities Industry and Financial Markets Assoc Read More
Thousands of union members will gather in Albany today to demonstrate against Governor Paterson's proposed state budget cuts, and most of them will no doubt be pushing organized labor's soak-the-rich income tax hike as an alternative. But Steve Kag Read More
New York City is record tourist travel to New York for this year. But broken down by quarter (numbers exclusively reported by FiscalWatch for the moment, although anyone can ask the city for them), the figures tell a more sober story. Read More
New York City projects a 1.8 percent decrease in sales-tax revenue this fiscal year, cutting $85 million out of cash receipts. But early post-Christmas estimates of holiday sales point up the likelihood that New York will further slash its sales-tax Read More
Smart private-sector companies are aggressively slashing white-collar pay and benefits to get costs under control amid slumping revenues. New York's public sector, by contrast, has no such clear, assertive plan, even though the state* and the MTA to Read More