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Albany, NY – The State Comptroller says New York's economic recovery is "fragile" and could be further eroded by global trends. Capitol Correspondent Karen DeWitt reports...
Comptroller Tom DiNapoli's report finds the already feeble economic recovery in New York is losing even more momentum.
"That trend is going to be with us, at least for the short term," said DiNapoli.
DiNapoli says overall, less than half of the total jobs lost in New York during the recession have been recovered, and continued weakness on Wall Street could also affect the state's budget, which is dependent on revenues from the financial sector. The public sector isn't doing much better, losing jobs now that the federal stimulus grants have run out.
He says the European debt crisis, a sudden spike in oil prices, or the failure to renew the federal pay roll tax cut could make things even worse.
In Albany, I'm Karen DeWitt.