This section shows the Brooklyn New York economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Brooklyn shows it has a Median earnings of $60,515 which is in the center range of other places in the greater region. The city with the highest median earnings per worker in the area is Hoboken which shows a median earnings of $106,649 (76.2% larger). Comparing median earnings per worker to the United States average of $53,269, Brooklyn is 13.6% larger. Also, measured against the state of New York, median earnings per worker of $60,620, Brooklyn is about the same size.
In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $67,753 which is less than most other places in the greater region. The city with the highest median household income in the area is Hoboken which depicts a median income of $160,890 (approximately 2.4 times bigger). Comparing median household income to the United States average of $69,021, Brooklyn is about the same size. Also, in comparison with the state of New York, median household income of $75,157, Brooklyn is about 10.9% smaller. Dividing median annual worker earnings by the average number of hours worked in a year in Figure 4 shows that it has a Avg Hrly Earnings of $30.31 which is in the mid range of other places in the local area. The city with the highest average hourly earnings in the area is Hoboken which shows an average hourly earnings of $46.61 (53.8% larger). Comparing average hourly earnings to the United States average of $26.40, Brooklyn is 14.8% larger. Also, measured against the state of New York, average hourly earnings of $30.52, Brooklyn is about the same size.
Figure 5 examines the number of self employed people in the Brooklyn metro area based on the number of people who reported any self employment income. Brooklyn depicts it has a Self Employed of 12.0% which is the second most of all the places in the local area. The city with the highest percentage of people self employed in the area is Inwood CDP which depicts a percentage self employed of 15.4% (28.1% larger).
The next chart (Figure 7) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 14.7% which is in the middle range of other places in the local area. The city with the highest households with retirement income in the area is Inwood CDP which depicts a households with retirement income of 20.8% (41.6% larger).
The percentage of full-time workers are compared to the number of part-time workers in Figure 8. Brooklyn shows full time employees approximately 3.6 times bigger as the part time employees.
Similar to the last chart is Figure 9 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. Brooklyn shows it has the hightest entrepreneurs of 24% for the self employed in professional, scientific, management, administrative services classification.
Figure 10 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Brooklyn shows it has the hightest cost of 190.5 for the cost of housing group.
Brooklyn New York Poverty Charts
In Figure 11 the percentage of people earning less than the poverty level is shown and compared across the group of places. Brooklyn depicts it has a Percent of Population In Poverty of 18.8% which is the second most of all the places in the greater region. The city with the highest percent of people earning less than the poverty level in the area is Union City which shows a percent of people in poverty of 20.0% (6.3% larger).
Additionally, Figure 12 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) Brooklyn depicts it has a Public Assistance Percent of 23.2% which is more than all other places in the greater Brooklyn region.
Brooklyn New York Labor Force Charts
The table in Figure 13, shows Brooklyn employment data in terms of job categories and salary data.
The next two charts look at monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2022, the Covid 19 recession occurred and affects this metric. The monthly unemployment rate depicts that from February 2017 to before the Coronavirus Pandemic it went from 5.0% to 3.1% in December 2019. This represents a decrease in the monthly unemployment rate of 38.0%. Since that time, the monthly unemployment rate has gone to 3.1%. This represents an increase in the monthly unemployment rate of very little.
Brooklyn New York Jobs Charts
In the jobs section of economic activity charts in Figure 15 shows the average annual earnings for very high level job industry categories for full time and year round employed.
Figure 16 shows the average median earnings for different categories of jobs.
Brooklyn New York Work Commute Charts
The following set of charts detail a variety of metrics that have economic impact, economic grow factors and economic development metrics in the Brooklyn community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 17 shows a high level view of how the population commutes to work (including the percent of people who work from home.) Brooklyn has the largest proportion of people who drive a car or motorcycle to work at 54% of the total and is ranked #1. Figure 18 shows a more detailed view of how the population commutes to work for (for example to downtown Brooklyn or elsewhere.) Brooklyn has the smallest proportion of people who drove alone at 18% of the total. Second, it has the largest proportion of people who take a Subway or elevated rail at 45% of the total and is ranked #1. Third, it has the largest proportion of people who bike at 2% of the total and is ranked #1.
Figure 19 is provided for comparison purposes to the previous chart. It shows how people get to work overall on average in the United States.
The average commute time is shown in Figure 21. Brooklyn shows it has a Avg Commute Time of 43 which is the largest of all places in the greater Brooklyn region.
Cities marked with an asterisk ("*") should resemble a city or town but do not have their own government (i.e. Mayor, City Council, etc.) These places should be recognizable by the local community but their boundaries have no legal status. Technically these include both Census Designated Places (CDP) and Census County Divisions (CCD) which are defined by the Census Bureau along with local authorities. (For more information, see:
Census Designated Place or "CDP")
and Census County Division "CCD".)
For comparison purposes, the US national average and the state average value are provided. Additionally, the "Combined Statistical Area" or CSA is shown that is closest to the city, county, or zip code shown. A CSA is a large grouping of adjacent metropolitan areas that identified by the Census Bureau based on social and economic ties. (See: Combined Statistical Area)
Data sources - Mouse over icon in upper right corner of each chart for information.