In addition to our analysis and public education work around the New York State and City budgets and tax policies, the Fiscal Policy Institute (FPI) regularly tracks economic and labor market trends in the City and the State and provides commentary and prepares issue briefs, reports, and policy proposals. Our interest in economic policy is rooted in a concern for broadly shared prosperity.
Previous FPI economic reports have documented the historically weak nature of the national recovery since the Great Recession of 2008-09. One of the unique aspects of this recovery has been the prolonged period of high unemployment and a concomitant wage and income stagnation experienced by most workers and their families. Various reports in recent years, by FPI and others, have documented the tendency during the recovery, and in recent decades, for the bulk of income gains to flow to those at the high end of the income distribution. With unemployment finally falling and as a result of two state minimum wage increases, it appears that wage growth has started to pick up in New York City over the past year. In addition, collective bargaining agreements providing for retroactive wage increases have been reached with 300,000 New York City and Metropolitan Transportation Authority workers since April 2014. This report examines wage trends over the course of the recovery and considers the outlook for further wage growth over the next few years, and discusses the role of policy actions in creating a more durable local economy.
During this year’s legislative session, lawmakers have an opportunity to enhance the already important contributions immigrants make in our state. As the Legislature considers funding for schools, health care and other services, along with other policies, it is important to understand how immigrants play a major role in Washington state’s economy and society.
Immigrants are an important part of the fabric of our society, making our state more culturally rich and economically vibrant. Like so many new Washingtonians before them, they come from all regions of the world in search of opportunity.
The majority of immigrants in our state – who represent one in six workers (17 percent) – are from Mexico, the Philippines, Canada, Vietnam and Korea. (1) Immigrants – whether naturalized citizens, lawfully present, or undocumented – play a significant and growing role in Washington state’s economy. As 13 percent of the total Washington state population, immigrants’ share of total annual economic output is 14 percent.
Minnesota is known for our hard-working residents, but too many find that their hard work is not enough. Wages haven’t kept up with the cost of living, and jobs that only offer part-time hours and lack critical benefits aren’t enough to make ends meet.
Even as the economic recovery has begun to take hold, too many Minnesotans still lack the quality jobs that would allow them to support themselves and their families.
Governments across the U.S. and around the world are investing billions of dollars in the film and television industry in an effort to create and retain the high-quality jobs attached to the industry. Yet musicians – the highly-trained and highly-talented women and men who record the scores for movies and television shows – are being left behind. This report shines a light on this oft-overlooked segment of the industry by examining the trends and forces contributing to a dramatic decline in domestic employment for recording musicians working at the industry standard.
This report concludes that by increasingly offshoring recording work, Hollywood studios and production companies are saving relatively small amounts of money. These savings, however, have disproportionate costs for musicians, taxpayers, and the broader economy. Hollywood can easily afford to meet the top employment standards for musicians, thereby not only providing ample quality employment, but strengthening domestic economies.