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The Securities Industry in New York City

Following near-record profitability in 2020, securities industry pretax profits rose even further in 2021. As federal stimulus actions have wound down, profits in 2022 are returning to pre-pandemic levels. New York State and City are reliant on tax revenues from the industry and must be cautious in managing their budgets given continued uncertainty in the financial markets. Though national sector employment has grown recently, the City’s share of national sector employment continued to decline slightly.

State Contracts by the Numbers - Google Charts

Google Charts - API

Homeownership Rates in New York

Homeownership can provide economic benefits, but New York State has the lowest homeownership rate in the nation, driven by low rates in New York City. New York also has a racial and ethnic ownership disparity that is higher than the rest of the country. Reducing inequities in real estate practices and boosting homeownership should be important priorities for maintaining New York’s competitiveness as a place of opportunity.