1. Home
  2. New York City

New York City

State Comptroller Thomas P. DiNapoli Statement on Mayor's Executive Budget Update

“New York City’s budget outlook continues to improve, and it can use this opportunity to build reserves and take other actions to address future uncertainty. Despite challenges, the city’s economy continues to grow and deliver better than expected tax revenue, supporting upward revisions in spending. The Fiscal Year 2025 budget is now expected to exceed $115 billion, up from nearly $111 billion projected at the same time last year.

A Review of NYC Capital Project Delivery, April 2024

The majority of New York City’s capital projects are over their initial budgets and behind schedule, suggesting better monitoring and reporting could lead to adjustments to improve capital project delivery. Recent reforms to the City’s capital planning process have focused on improving the delivery of projects, but little detail is available in public documentation about what is fueling these cost and schedule overruns. With closer, more uniform monitoring of capital projects, the City can better identify where additional improvement is needed.

DiNapoli: NYC Immigrant Workforce Below 2015 Peak

The size of New York City’s immigrant workforce was flat over nearly a decade, according to a new report from New York State Comptroller Thomas P. DiNapoli. Through 2023, the foreign-born labor market grew 18.5% since 2015 nationally, while New York City’s declined 0.6%, according to data analyzed from the Bureau of Labor Statistics. Still, in 2023, New York City’s 1.8 million foreign-born workers made up 44.3% of its total labor force, more than double the national share of 18.6%.

New York City's Uneven Recovery: Foreign-Born in the Workforce

The size of New York City’s immigrant workforce was flat over nearly a decade. Through 2023, the foreign-born labor market grew 18.5% since 2015 nationally, while New York City’s declined 0.6%, according to data analyzed from the Bureau of Labor Statistics. Still, in 2023, New York City’s 1.8 million foreign-born workers made up 44.3% of its total labor force, more than double the national share of 18.6%.

One Page Summary: Foreign-Born in the Workforce in NYC

2023 Wall Street Bonuses

The average annual Wall Street bonus dipped to $176,500 last year, a 2% decline from the previous year’s average of $180,000. Wall Street’s profits were up 1.8% in 2023, but firms have taken a more cautious approach to compensation and more employees have joined the securities industry, which accounts for the slight decline in the average bonus.

DiNapoli: 2023 Wall Street $34 Billion Bonus Pool Relatively Flat Over 2022

The average annual Wall Street bonus dipped to $176,500 last year, a 2% decline from the previous year’s average of $180,000, according to New York State Comptroller Thomas P. DiNapoli’s annual estimate. Wall Street’s profits were up 1.8% in 2023, but firms have taken a more cautious approach to compensation and more employees have joined the securities industry, which accounts for the slight decline in the average bonus.

DiNapoli: LIRR Must Better Prepare for Severe Weather to Prevent Service Disruptions and Costly Damages

The Long Island Rail Road (LIRR) needs to do more to properly prepare for severe weather events, according to an audit released today by New York State Comptroller Thomas P. DiNapoli. The audit found the LIRR delayed a critical weather-related systemwide risk assessment of its infrastructure for over a decade and failed to complete several resiliency projects on-time following Superstorm Sandy in 2012.

Review of the Financial Plan of the City of New York, February 2024

Better-than-projected revenues and planned cost savings benefited New York City’s budget outlook for Fiscal Year 2025, but outyear budget gaps remain large due to the end of federal pandemic aid and a lack of federal funding to support asylum seeker costs. Additional City funding for education and social services programs that support working-class families may be needed if those programs will be maintained at current levels in the future.  

Subscribe to New York City