Reports

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Economy, Federal Issues

February 2021 —

Although New York City was an early epicenter for COVID-19, only 45.6 percent of firms in the City received Paycheck Protection Program (PPP) loans, below the national average of 50.9 percent.

Budget & Finances, Economy

February 2021 —

Unemployment rates for New York State, New York City and the balance of the State spiked upward in April 2020. At that point, and in the months immediately before, the percentages of officially unemployed workers in the City and in the rest of the State were nearly identical — but those numbers have since diverged sharply.

Budget & Finances, Environment

January 2021 —

As DEC now enters its second half-century, its mission is broader than ever before. Wide-ranging laws to address climate change and major initiatives to assure clean drinking water are just some of the new tasks DEC has been assigned in the last few years, adding to an already long list of environmental planning, regulatory and management programs — all of which are important to our quality of life and the State’s economy.

Budget & Finances, Economy

January 2021 —

The economic outlook contained in the Governor’s Executive Budget proposal for State Fiscal Year 2021-22, released this week, anticipates continuing but slow improvement for employment and other economic indicators, as well as tax revenues.

Budget & Finances

January 2021 —

DiNapoli's office issues a state cash report every month identifying actual state revenues and spending from the prior month. The cash report focuses primarily on the General Fund and All Governmental Funds. The General Fund is the major operating fund of the state. All Governmental Funds includes General, Special Revenue, Debt Service and Capital Projects funds, as well as funds from the federal government.

Previous Monthly Cash Basis Reports

Budget & Finances, Economy

January 2021 —

New Yorkers’ average student loan balance rose by 3.9 percent from the previous year to $37,600 as of June 2020, according to newly available data from the Federal Reserve Bank of New York.

Procurement

January 2021 —

OSC received 21,282 contract transactions, including both new contracts and contract amendments, valued at $102.4 billion in 2019. The average time from agency contract submission to final sign-off was 6.3 days.

Budget & Finances, Economy

December 2020 —

The economic, social and budgetary fallout from the COVID-19 pandemic in New York City has been unprecedented, while the loss of life has been unimaginable. As we enter 2021, the pandemic remains a threat to our health and economy as we face rising case and hospitalization figures as well as renewed restrictions to manage the public health risks.

Budget & Finances

December 2020 —

Local government sales tax collections declined by 7.1 percent, or $102 million, in November compared to the same month in 2019. The decline is steeper than in October, but not as bad as the double-digit declines in the earlier months (April-June) of the pandemic. All but five counties saw declines in overall collections in November, and New York City had a 6.5 percent, or $45 million, decline.

Regional Table [.xlsx]

Budget & Finances, Economy

December 2020 —

In the second quarter of 2020, total wages paid in New York State declined by $12.5 billion or 7.4 percent in comparison to the second quarter of 2019, according to new data from the U.S. Bureau of Labor Statistics (BLS).

Economy

December 2020 —

The COVID-19 pandemic has affected the retail trade sector unevenly, with online retailers and some essential businesses experiencing growth and other large retail segments seeing falling revenues. The impact has been most obvious in Manhattan, where foot traffic in key corridors initially fell by more than 90 percent and remains below 50 percent of its 2019 levels as tourists, commuters, office workers and residents have responded to pandemic-related shutdowns and public health concerns.

Budget & Finances, Economy

December 2020 —

After losing more than 1.9 million jobs in March and April, New York State saw steady gains, averaging over 174,000 jobs in each of the following five months. 

Budget & Finances, Federal Issues

November 2020 —

In Federal Fiscal Year 2019, New York State generated $23.7 billion more in federal taxes than it received in federal spending. In total dollars, New York’s deficit was the highest among the 50 states. For every tax dollar paid to Washington, our State received 91 cents in return—well below the national average of $1.24.

Excel file with supporting data | Data Visualization

Budget & Finances

November 2020 —

Local government sales tax revenue declined by 5.2 percent, or $74.4 million, in October compared to the same month in 2019.

Regional Table [.xlsx]

Budget & Finances, Economy

November 2020 —

Total employment in New York State fell in March, and again—much more sharply—in April, with a combined loss of more than 1.9 million jobs.

Budget & Finances

November 2020 —

The Office of the State Comptroller estimates that the State’s tax revenues will decline by 5.6 percent or $4.7 billion in SFY 2020-21 compared to the previous year. Such revenues are projected to grow by 1.6 percent in SFY 2021-22, and to increase by 4.3 percent in SFY 2022- 23

Budget & Finances, Economy, Health & Welfare

November 2020 —

Many New Yorkers enjoy buying Lottery tickets and taking a chance on a big prize. Some play the slot machines and other games in the State’s eight Video Lottery Terminal (VLT) facilities, four commercial casinos and seven Native American casinos. Sports wagering and interactive fantasy sports are now part of the gambling picture, and traditional betting on horses continues at racetracks and off-track betting locations.

Budget & Finances

October 2020 —

The COVID-19 pandemic has created a fiscal emergency for the City of New York, creating significant revenue shortfalls and increased costs associated with managing the public health crisis.

Budget & Finances, Education

October 2020 —

The impact of the COVID-19 pandemic on school district operations has been substantial, driving unprecedented changes to many core functions and processes, including the annual school budget vote. For district-level information: http://wwe1.osc.state.ny.us/localgov/research-budget-votes/budget-votes.cfm

Budget & Finances

October 2020 —

Statewide local sales tax collections in the third quarter of 2020 declined by 9.5 percent, or $452 million, over the same quarter in 2019. This decrease, while alarming in a typical year, was still a marked improvement from the 27.1 percent drop in the second quarter, which reflected the peak of the economic impact to date from the COVID-19 pandemic.

Regional Table [.xlsx]