Although unemployment has fallen in New York City, the last year has seen a sharp divergence in White and Black unemployment rates

By on    Employment, Featured, New York  

Although unemployment has fallen in New York City, the last year has seen a sharp divergence in White and Black unemployment rates

By Emily Mella Pablo and James A. Parrott // centernyc.org New York City’s unemployment rate for the first quarter of this year (January-March) fell to 5.3 percent, down from 6.4 percent in the first quarter of 2022. The city continues to lag national performance, with the overall U.S. unemployment rate for the latest quarter clocking […]

Taxes and Unemployment: What You Need to Know

By on    Employment  

Taxes and Unemployment: What You Need to Know

Unemployment payments are usually taxed as income by the federal government. That changed, however, in March 2021, when Congress passed the American Rescue Plan. The law provided for people (including joint filers) making less than $150,000 to exclude $10,200 in unemployment benefits from their income when they file their income taxes for the 2020 tax […]