Economy
A Plan to Drastically Reduce New York's Poverty
A comprehensive package of assistance programs can lower the city's poverty rate by 69 percent.
New York City's official poverty rate was around 20 percent in 2012, well above the national rate of 15 percent. A 2014 report commissioned by the city blamed the usual suspects: low wages, high rents, and unemployment. It also highlighted the value of government assistance programs in helping bring down the number of poor New Yorkers.
A new Urban Institute analysis tested seven types of government-assistance programs to see which one would have most impact in New York. It found that while a transitional jobs program might make the most difference compared with the other policies, only a combination of all seven programs would drastically bring down the city's poverty rate.