This section shows the 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, New York depicts it has a Median earnings of $60,620 which is the second most median earnings of all the states in the greater New York region. The state with the highest median earnings per worker in the group is New Jersey which shows a median earnings of $66,099 (9.0% larger).
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 $75,157 which is the second most median income of all the states in the greater New York region. The state with the highest median household income in the group is New Jersey which shows a median income of $89,703 (19.4% larger).
The next section examines a variety of different income statistics for the New York metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings between $10,000 and $14,999 at 5.2% of the total and is ranked #1. 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 $30.52 which is the second most of all the states in the local area. The state with the highest average hourly earnings in the group is New Jersey which shows an average hourly earnings of $33.02 (8.2% larger).
Figure 5 examines the number of self employed people in the New York metro area based on the number of people who reported any self employment income. New York shows it has a Self Employed of 10.5% which is more than all other states in the greater New York region.
Figure 6 breaks down the source of income and New York has the largest proportion of income from wages at 4.5% of the total and is ranked #1.
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 22.3% which is the second most of all the states in the local area. The state with the highest households with retirement income in the group is Pennsylvania which depicts a households with retirement income of 24.8% (11.3% larger).
The percentage of full-time workers are compared to the number of part-time workers in Figure 8. New York shows full time employees approximately 3.4 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. the state of depicts it has the hightest entrepreneurs of 23% 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. New York depicts it has the hightest cost of 130.2 for the cost of housing classification.
The State of 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. New York depicts it has a Percent of Population In Poverty of 13.5% which is more than all other states in the greater New York region.
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.) the state of depicts it has a Public Assistance Percent of 15.4% which is the most of all states in the greater New York region.
The State of New York Labor Force Charts
The table in Figure 13, shows New York 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 January 2017 to before the disasterous Coronavirus Pandemic it went from 5.3% to 5.1% in March 2020. This represents a decrease in the monthly unemployment rate of 3.8%. Since that time, the monthly unemployment rate has gone to 4.0%. This represents a decrease in the monthly unemployment rate of 21.6%.
The State of 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.
The State of 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 New York 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.) New York has the largest proportion of people who drive a car or motorcycle to work at 25% of the total and is ranked #1. Second, it has the largest proportion of people who take public transportation to work at 7% 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 New York or elsewhere.) New York has the largest proportion of people who take the bus at 5% of the total and is ranked #1. Second, it has the largest proportion of people who take a Subway or elevated rail at 17% of the total and is ranked #1. Third, it has the largest proportion of people who take the Long-distance train or commuter rail at 2% of the total and is ranked #1. Also, it has the largest proportion of people who bike at 1% of the total and is ranked #1. In addition, it has the largest proportion of people who walked at 6% 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. the state of shows it has a Avg Commute Time of 33 which is the largest of all states in the greater New York 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.