Finance, high technology, real estate, insurance, and health care all form the basis of New York City’s economy . The city is also the nation’s most important center for mass media, journalism, and publishing. Also, it is the country’s preeminent arts center.
New York metro area’s GDP has steadily risen in the last two decades from 1.2 trillion U.S. dollars in 2001 to 1.57 trillion U.S. dollars in 2019. In October 2020, the New York – Newark-Jersey City area had an unemployment rate of 9.7 percent.
Midtown Manhattan in New York City, the largest central business district in the world. The economy of the State of New York is reflected in its gross state product in 2018 of $1.7 trillion, ranking third in size behind the larger U.S. states of California and Texas.
ChamberofCommerce.org, one of the leading resource websites for small businesses, announced its rankings of the richest states in the U.S. Top 5 Richest States in the US are Connecticut, Massachusetts, New York , Alaska and New Jersey.
In short, the leading industries in New York are not just driving the state’s economy; they are leading the charge on a national and global scale. Financial Services . Health Care . Professional and Technical Services . Retail Trade . Manufacturing . Educational Services .
New York City was the capital of the United States from 1785 until 1790, and has been the largest U.S. city since 1790. The Statue of Liberty greeted millions of immigrants as they came to the U.S. by ship in the late 19th and early 20th centuries, and is a symbol of the U.S. and its ideals of liberty and peace.
Debt for the City, excluding the New York Municipal Water Finance Authority, has grown from $39.55 billion in FY 2000 to $95.03 billion in FY 2020, an increase of 140 percent.
America’s third- largest state economy – New York with a GDP in 2019 of $1.73 trillion – produced slightly more economic output last year than the entire country of neighboring Canada ($1.70 trillion).
$80k is enough technically but it would be a far more comfortable situation to split a place 2 or 3 ways if hell bent on living in Manhattan. Wouldn’t leave you with a lot left over after paying a $2,000 rent bill plus all utilities on your own.
Your annual salary of $200,000 would end up being about $96.15 per hour. You’d live pretty good in NYC in fact you’d be able to live in almost every neighborhood in NYC . Rent average from 1,500 a month if you are lucky to 4,000 and higher but you could most likely buy an apartment with that kind of salary .
120k will not go far in Manhattan. The taxes are very high at that salary level. If you max out your 401k (which everyone should be doing unless you get a pension or have family money/trust fund), then your take-home pay will be around $5026 per month.
New York’s real per capita personal income was $53,700; the state’s 3-year poverty rate average was found to be 11.8 percent; per capita state spending in 2017 was $7,910; per capita personal consumption expenditures in 2018 were $52,701 and state revenue per capita was $14,499.
According to the U.S. Census Bureau, the national poverty rate was 10.5% percent or 34 million Americans in 2019. These states and territories have the highest percentages of poverty in the country: Puerto Rico, Mississippi , Louisiana, Kentucky, Arkansas , West Virginia , Alabama , Oklahoma, Tennessee, and South Carolina.