Skip Navigation
on:

NCPR is supported by:

News stories tagged with "recession"

Photo: <a href="http://upload.wikimedia.org/wikipedia/commons/2/29/Walmex_plateros.JPG">Enrique Cornejo</a>, Creative Commons, some rights reserved
Photo: Enrique Cornejo, Creative Commons, some rights reserved

NY minimum wage rising to $8 an hour

ALBANY, N.Y. (AP) New York's minimum wage will increase to $8 an hour at the end of this year, 75 cents higher than the federal minimum and the old state rate.

It's the first of three incremental boosts approved by the Legislature and Gov. Andrew Cuomo when they approved the state budget last March.  Go to full article
New York State Comptroller Tom DiNapoli. Photo: Comptroller's office
New York State Comptroller Tom DiNapoli. Photo: Comptroller's office

Comptroller addresses NY's "uneven" recovery

New York's top accountant says the state needs to re-double its efforts to regrow its economy across all regions.

State Comptroller Thomas DiNapoli says that while New York has regained the number of jobs it lost during the recession, growth has been spotty.  Go to full article
Clergy filled the stairwell at the Capitol Building, urging Gov. Andrew Cuomo to push for a hike in the minimum wage. Photo: Karen DeWitt.
Clergy filled the stairwell at the Capitol Building, urging Gov. Andrew Cuomo to push for a hike in the minimum wage. Photo: Karen DeWitt.

NYers still paying the price of recession

A new report on the status of workers finds the period since the 2008 market crash may turn out to be a "lost decade" for New Yorkers, as wages stagnate and the average time for unemployment lengthens.

The union financed think tank, the Fiscal Policy Institute, finds the current economic recovery continues to be the weakest on record since the Great Depression of the 1930's.  Go to full article
Wall Street. Photo: <a href="http://www.flickr.com/photos/jpellgen/">jpellgen</a>, CC <a href="http://creativecommons.org/licenses/by-nc-nd/2.0/deed.en">some rights reserved</a>
Wall Street. Photo: jpellgen, CC some rights reserved

NY comptroller sees mixed year on Wall Street

Profits on Wall Street are going to be up this year, according to a new report from New York State Comptroller Thomas DiNapoli. But he says they're still below their pre-recession highs.

The report also finds fewer job losses in the securities industry, but still many economic uncertainties ahead.  Go to full article
How much of Canada's vitality is driven by borrowing and government stimulus?  (Photo:  Brian Mann)
How much of Canada's vitality is driven by borrowing and government stimulus? (Photo: Brian Mann)

Canada boosts recession-era prosperity with government jobs, new borrowing

This week, we're looking at the very different way that Canada has experienced the Great Recession, when compared to the North Country. In partnership with WBEZ public radio in Chicago, Brian Mann has been traveling this week in Ontario, comparing the situation in the US with life on the ground in Canada.

One of the biggest differences he's been finding is in government. This week, the New York Times reported that deep cuts have hit the public sector here in the US. But those same deep government cuts haven't occurred (at least not yet) north of the border.

Brian talked about the role government jobs have played in Canada, contrasted with the downsizing that has swept the US.  Go to full article
Is Kingston, Ontario's economy a model for North Country prosperity? Photo: Brian Mann
Is Kingston, Ontario's economy a model for North Country prosperity? Photo: Brian Mann

Does Canada's economy offer clues, ideas that could help the North Country?

This week we'll be looking in-depth at the very different ways that the recession has hit Canada. Over the last three years, communities and workers north of the border have fared much better than their counterparts here in the North Country.

Unemployment on the Canadian side of the lakes is far lower -- around 8% in Ontario and 7.7% in Quebec. In fact, through the Great Recession, Ontario and Quebec have actually grown jobs. And workers in those provinces who lose their positions can expect to be out of work for only half as long before they find a new job, when compared with workers in the US.

In a partnership with WBEZ public radio in Chicago, Brian Mann is traveling in Canada, talking with experts and workers. He spoke with Martha Foley.  Go to full article

Story 2.0: Job hunting "worse than ever"

Millions of Americans whose unemployment benefits have run out are breathing a sigh of relief. The Senate is poised to pass legislation today restoring the benefits. The measure would then go to the House for a final vote. It is expected to pass then go on to President Barack Obama later this week.

A continuing fear of social services folks is what happens when unemployment benefits do run out. The jobless rate still hovers around 10%, and that doesn't include people who have stopped looking for a job out of frustration. Last December, the staff at One Stop Career Center in Canton predicted "a tsunami of job seekers" this year. It turns out they were right. In our ongoing series Story 2.0, we'll revisit the One Stop Career Center. But first, here's an excerpt from David Sommerstein's story from last winter.  Go to full article

St. Lawrence County $11 million in the red

The budget crunch in Albany means a bleak financial future for many of the North Country's counties. St. Lawrence County is fighting to close an $11 to 14 million deficit next year. That's 5% of the county's overall budget. County Administrator Karen St. Hillaire has proposed a package of $4 million in cuts. It would avoid most layoffs, but it would still force a 5% property tax increase. If the fiscal picture gets worse, the county may have to cut 30 to 50 jobs. St. Hillaire says most of the deficit comes from the state and federal governments contributing millions less to mandated programs, like Medicaid and the pension fund. She told David Sommerstein the struggling economy makes matters worse.  Go to full article

STORY 2.0: After A year of Hard Choices, checking in on the region?s economy

North Country Public Radio kicked off its "Year of Hard Choices" look at the impact of the Great Recession last year with a conversation with economist Greg Gardener.

Gardner has been a student of the North Country economy since coming to the region over 15 years ago. He teaches at SUNY Potsdam. He and his wife live outside Watertown.

He says the year looked about like he had thought it would...unemployment is up, there's been pressure on the private sector, but the region had an OK tourism year..."we got leaned on hard," he said, but it wasn't catastrophic.

But Gardner told Martha Foley there was a troubling erosion of what's traditionally been the region's buffer against hard times. Public sector jobs: from prisons to schools to local government. They're threatened, and hurts the North Country.  Go to full article

Lessons learned from A Year of Hard Choices in Adirondack real estate

Northern New York's real estate market is showing signs of life, according to Mark Bergman. He's a realtor in North Creek. And he's part of our occasional series, A Year of Hard Choices. Below, you can find a link to these stories of the recession and how the sagging economy is affecting people across the North Country.

Bergman says he won't soon forget last year--and the economic lessons it taught him. Last spring, Mark spoke with Jonathan Brown about the dearth of real estate sales in the southern Adirondacks.  Go to full article

1-10 of 33  next 10 »  last »