Human capital is a hot topic. Thriving in the information economy requires a highly skilled workforce with specialized expertise and an ability to innovate. Attracting such a workforce is essential to New York's ability to retain strength in core industries and cultivate emerging ones.
The future econonomic prosperity of the New York City metropolitan area depends on attracting and retaining a highly-educated workforce. In coming years, economic growth will be driven by industries that require highly-skilled workers with specialized knowldge, technical expertise and an ability to innovate.
The cost of health insurance for New York City public employees and retirees is projected to grow by almost 40% by 2016 — rising to nearly $7 billion a year. That growth will amount to $1.5 billion of the $1.9 billion budget deficit projected for 2016.
The cost to taxpayers of health insurance for New York City public employees and retirees has more than doubled in the last 10 years. It’s projected to grow by almost 40 percent and comprise 70 percent of the budget deficit in 2016.
The fiscal story of 2012 was one of both challenge and progress. As New York State, City and MTA budgets faced cyclical and structural hurdles, some major reforms were enacted, yet more work remains. CBC created 31 tables, 40 charts (2 interactive), 3 maps, 3 infographics and 1 budget navigator to convey these successes and obstacles throughout the year. These are some of the highlights.