State of New York

In the first half of the year, private-sector jobs in the Big Apple surpassed pre-pandemic levels as payroll gains outperformed the national growth rate. However, Mayor Adams says there is one big problem that "will destroy New York City."

"The improved rating outlooks are critical for the Power Authority to ensure that we can continue leveraging the capital markets," said NYPA President and CEO Justin E. Driscoll.

For the three-month period ending June 30, the fund's investments returned about 3.08%.

A federal initiative, focusing on states, and eventually, larger municipalities and authorities, that places a premium on enhancing transparency, is fundamental to improving the fiscal health of state and local governments.

Despite looming economic and social challenges, New York City's economy has proven to be more resilient than projected, New York's comptrollers Brad Lander and Thomas DiNapoli say.

Costs associated with the influx of migrants could cost the city more than $12 billion over fiscal 2023, 2024 and 2025.

"During this critical period for our state's future, I'm looking forward to having Blake Washington on my team," Gov. Hochul said.

Issuers are grappling with struggling transit systems in post pandemic.

Proceeds from the sale will be used to fund infrastructure projects in the city's $164.8 billion 10-year capital plan.

New York State Comptroller Thomas DiNapoli urged state agencies to do more to protect water systems from cyberattacks as Moody's Investors Service said cyber risks pose challenges to municipalities across the United States.

"Recent months have been trying for investors," said State Comptroller Thomas DiNapoli, "and there is no doubt that challenges lie ahead, with concerns over a recession and potential interest rate increases, but the state pension fund is well-positioned to weather these storms."

"His key role in the financial rescue of New York City following its near-bankruptcy in 1975 set Dick on a nearly five-decade path making sure such an event would never happen again in the city and elsewhere," said William Glasgall of the Volcker Alliance.

The IBO is a publicly funded city agency that provides nonpartisan information about the budget and economy but has no policymaking role.

"We are seeing strength in the securities, transportation and warehousing and office sectors," New York State Comptroller Thomas DiNapoli said "but retail, restaurants, construction and tourism continue to lag the national recovery."

The Municipal Forum of New York presented awards to four people at its annual fund-raising dinner in Manhattan on May 3. Money raised at the dinner is used to support the Urban Leadership Fellows internship program to support high school seniors heading to college.

While fiscal 2023 and 2024 budgets remain balanced, outyear gaps increase to $4.2 billion, $6.0 billion and $7.0 billion in fiscal 2025 through 2027, respectively.

Almost a month late, the New York Senate and Assembly are expected to soon pass the $229 billion fiscal 2024 budget.

Proceeds will be used to refund some bonds that had been issued to finance or refinance eligible clean water and drinking water projects in the state.

"I think there is a certain amount of anxiety for New York — and many other states — as federal pandemic funds run out and questions about the potential for a recession emerge," said Evercore's Howard Cure.

The New York Fed said the tech sector's employment contraction impact on the New York City economy was unlikely to be significant.