A CITY GOVERNMENT IN DENIAL ON THE BUDGET
To get right to the point, the Mayor and the Office of Management and Budget (OMB) seem to be in serious denial about the size of next year’s budget deficit.
Category: NYC Economy
City Regains Million Jobs Lost in Pandemic; Milestone Tempered by Slower Job Growth in 2023
Mayor Eric Adams announced on October 19th that New York City had regained the nearly 1 million jobs lost duringContinue Reading
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The Mayor, the Migrants, and Reeling Deficits: Destroying New York, Really?
Mayor Eric Adams’ doomsday outcry about the impact of the increasing numbers of migrants coming to New York City, thatContinue Reading
NYC Adds Nearly a Million Jobs As It Reaches a Total Recovery from One of the Worst Pandemic Drops in the Nation
Let me start with the good news: New York City has regained nearly one million jobs, 29.9% above its lowestContinue Reading
Congress Returns to Washington as New York’s Future Hangs in the Balance
Congress returned to Washington D.C this past week and New Yorkers have a big stake in the outcome of anyContinue Reading
The Pandemic Has Forced Hundreds of Thousands Out of the City’s Labor Force. They Are Not Even Counted in the City’s Official 18% Unemployment Rate.
Labor statistics can be very confusing, especially for the general public. The Bureau of Labor Statistics (BLS) released its JuneContinue Reading
State Budget Crisis Part Two: UPDATE-NYC WANTS TO BORROW LONG-TERM TOO
I wrote on my blog on May 28th https://jimbrennanscommentaries.com/2020/05/28/state-budget-crisis-part-2-budget-cuts-loom-as-dc-aid-stalls-but-nys-can-fill-gap-without-tax-increases/ advocating New York State address its looming budget deficit by borrowingContinue Reading
Colossal Failures by New York Budget Division Bring Turmoil and Danger to Medicaid Program
The New York State Division of the Budget surprised the public this past November with an announcement the State facedContinue Reading
New York City Dominating State Job Growth; Rest of State Still Growing-Slowly
New York City is now utterly dominating job growth in the State of New York. In the past two andContinue Reading
The City’s Economy and Its Residents are Generating an Increasingly Large Share of the State Government’s Resources
New York City and its economy have been growing at an extraordinary pace in recent years. It is quite clearContinue Reading