Home » News » New Survey Reveals Financial Crisis Among New Yorkers: New York City Facing Economic Abyss

New Survey Reveals Financial Crisis Among New Yorkers: New York City Facing Economic Abyss

In the famous song New York New York,” by Frank Sinatraone of his best-known lines warns that ‘Whoever makes it in New York can make it anywhere’, and that in the end, ‘it depends on you’. And although the little phrase has become popular as a call to success, in the life of new yorkers as Josefina Villalbawho has been living for 25 years, or as she herself says, while frowning, “surviving”, There is nothing further from the truth: ‘the song is a pure story, and even worse for people like us.’

And although the cleaning worker assures that “split the back like a donkey“sometimes up to seven days a week, pay the $2,000 rent from his apartment in Corona, Queens, $300 a month to buy household products that are not included in the markets that are provided in two pantries he goes to, $138 for the MetroCard, $150 for internet, gas and electricity, $185 for the family plan of cell phones that he has with his two youngest children, $70 in corn tortillas, $100 in laundry and clothes, $250 that he sends to his mother in Mexico, and a fee of $275 to cover a debt that he had to get into during the pandemic to survive, it has been impossible.

“I earn between $2,700 and $3,000 every month and my expenses are about $3,400, so add it up… it doesn’t give me enough. Mathematics doesn’t give, so it doesn’t depend on you, as that song says, that’s a lie… that fucking song wasn’t written for people like me but for the rich. Let’s see how long we can continue fighting,” says the single mother, maintaining a gesture in which laughter and concern merge into a sigh of resignation.

And in the five boroughs of the Big Apple, more and more New Yorkers are more and more on the brink of the financial abyss, as the survey has just revealed “Unheard Third Survey”prepared by the organization Community Service Societywhich confirms data from the report of “United Way of New York City”which warns that more than 50% of New Yorkersnot only low-income but also middle class, do not have the income to cover the cost of living and make ends meet “victorious.”

The new survey shows that Latino New Yorkers, Blacks and single mothers bear the brunt. And when addressing what are the great limitations to being able to get ahead and have a better life, the need to affordable housing and access to health, as key cards: 45% of those surveyed see the lack of housing as a barrier that prevents having financial peace of mind, according to the survey.

The report highlights that among low-income New Yorkers below 200 percent of the federal poverty level, 52% of respondents cited affordable housing as their No. 1 concernand the findings were even more disturbing among low-income working mothers, as the 62% Of them, they pointed out the lack of low-cost residential units as their main barrier to being able to move forward in 2023. In 2022, concern about housing was 46%.

“Lack of access to affordable housing has a multifaceted impact on the lives of New Yorkers; forces households to divert a greater proportion of their limited income toward housing and away from productive activities and investments such as higher education and health care, and in many unfortunate cases, can lead to traumatic evictions and cycles of homelessness,” warns the report from the Community Service Society organization.

Lack of access to health care is the second most important concern for New Yorkers as they strive for better lives, according to respondents, where the 27th% ranked it as their greatest barrier to progress, followed by the lack of access to more affordable universities, with 23%.

Likewise, the survey showed that 20% of New York mothers expressed increased access to affordable child care as a top priority for economic advancement, 22% the need for access to job training, and in particular, 20% of Latinos emphasized the importance of public investment in infrastructure to create jobs of work and increasing access to job training as crucial measures to get ahead. 9% of those surveyed, of all incomes, races and ethnicities, chose affordable child care as their top priority to get ahead financially.

Jennifer Hinojosapolicy analyst at Community Service Society, and leader of the project, highlighted that the findings of the third Unheard survey of 2023 indicate that affordable housing in New York City hinders economic progress for all New Yorkers, and It is especially more difficult for the Hispanic communityat a time when the mayor Eric Adams intends to cut resources of vital agencies, blaming the crisis on new migrants.

“Latinos in New York City expressed a strong desire for greater access to job training and a more affordable college education. Unfortunately, the Mayor’s budget cuts will exacerbate the obstacles the Latino community faces in navigating the current economic climate.”said the analyst. “Latinos represent an important part of the current and future workforce in New York City and The American Dream for many Latino communities in New York City is becoming unaffordable and unattainable today.“.

Hinojosa added that hopes local government will use the survey’s findings to advocate for the well-being of New Yorkers, particularly those with low incomes, and reconsider budget reductions in essential services such as public education, library programs, health care provisions, social services and for the homeless, support for immigrant communities, funding for CUNY students and other vital resources.

These cuts will directly affect all low-income working households and immigrant communities within the cityparticularly those who are already dealing with the challenge of meeting basic needs such as food, medical care, housing and more,” the researcher noted.

The report not only put the data on the table as a way to shed light on the feelings of New Yorkers, but also called on the City and State to address the problems planned to promote economic progress. To this end, within its recommendations, it urged the Municipal Administration and Albany to prioritize the availability of “truly affordable housing”, expand access to health care and affordable education and university, implement initiatives that promote the development and placement of the workforce, particularly among low-income New Yorkers, invest in infrastructure to create jobs and increase access to job training.

They also urged Albany pass crucial protections for tenants to avoid being evicted and curb skyrocketing rents, with laws like “Good Cause,” expanding the right to anti-eviction attorneys, as well as the Housing Access Voucher program and the creation of social housing outside the speculative market.

On the other hand, they recommended expanding outreach and enrollment strategies by funding assistance programs to acquire coverage or health insurance programs, expanding state programs for low-income immigrants to obtain #Coverage4All, approving the New Deal for CUNY that would eliminate fees tuition, making public college more affordable for low- and moderate-income students, expanding eligibility for New York State’s Tuition Assistance Program (TAP), building pathways to apprenticeships, internships, scholarships and other programs non-traditional.

About the improvements about the Childcare, report recommends improving the Empire State Child Credit (ESCC) to benefit all lower-income New York families and making the credit fully refundable, increasing access to child care vouchers, implementing a family copay cap to increase affordability for families and expand access to child care for immigrant families, regardless of immigration status and for parents who work non-traditional hours. Also integrate child care centers into neighborhood sites, such as public housing community centers, settlement houses, and community colleges.

“The combination of rising costs for food, housing, health insurance premiums, subway and bus fares, and child care make the cost of living in New York City astronomical, especially for low-income families, and “It is clear that economic mobility is more difficult for black and low-income people, Latinos and working mothers,” the survey insisted, emphasizing that New Yorkers are increasingly on the brink of the financial abyss.

These obstacles are even more pronounced in certain geographic areas, particularly the Bronx and Brooklyn. We hope that these reports underscore the importance of making public investments in crucial areas such as housing, education, child care and transit, and giving all New Yorkers an opportunity to get ahead and live to their full potential,” they concluded, predicting strong winds after the cuts that the Mayor proposes blaming the influx of new migrants, if New Yorkers don’t make their voices heard.

And also bringing up the song “New York New York”, by Frank Sinatra, the authors of the Community Service Society report pointed out that although the legendary performer chanted that ‘he who makes it in New York, can make it anywhere’, and that in the end, ‘it’s up to you’, in every corner of the Big Apple, this 2023, “to achieve it: cover the very high rent, pay for routine medical care, transportation, food and, if necessary, and one dares (start a family and pay for childcare) It feels like a Herculean economic challenge.“. ‘New York, New york, New York’.

Survey data and the fight against the cost of living in NYC

  • 45% of those surveyed see affordable housing as the number 1 priority that becomes a brake on getting ahead
  • 27% of respondents see access to medical care as a top priority
  • 20% of mothers expressed greater access to affordable child care as a top priority for economic advancement
  • 22% spoke out towards access to job training and making university education more affordable to get ahead
  • 20% of Latinos emphasized the importance of public investment in infrastructure to create jobs and increase access to job training to get ahead.
  • 9% of respondents across incomes, races and ethnicities chose affordable child care as their top priority for getting ahead financially
  • 50% of households in New York cannot meet their needs without help from the government, family or community
  • 65% of households in the Bronx are in that situation
  • 80% of single mothers with children in NY earn less than the cost of living
  • 31% of them are below the poverty level
  • 52% of married households with children do not earn enough to cover the cost of living
  • 44% of households without children face this challenge
  • 612,208 Latino households struggle to make ends meet and cover their expenses
  • 21% of Latino households are below the poverty level, 148,000 families
  • 65% of Latinos do not have enough money to cover the cost of living
  • 58% is the case among black households and 32% among white families
  • Costs have increased 131% since 2000 in NYC
  • Income has increased 71% since 2000 in NYC

2023-12-14 11:00:00
#Yorkers #brink #financial #abyss #Latinos #single #mothers #bear #brunt #Diario

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