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New York City's Uneven Recovery: Foreign-Born in the Workforce

The size of New York City’s immigrant workforce was flat over nearly a decade. Through 2023, the foreign-born labor market grew 18.5% since 2015 nationally, while New York City’s declined 0.6%, according to data analyzed from the Bureau of Labor Statistics. Still, in 2023, New York City’s 1.8 million foreign-born workers made up 44.3% of its total labor force, more than double the national share of 18.6%.

One Page Summary: Foreign-Born in the Workforce in NYC

2023 Wall Street Bonuses

The average annual Wall Street bonus dipped to $176,500 last year, a 2% decline from the previous year’s average of $180,000. Wall Street’s profits were up 1.8% in 2023, but firms have taken a more cautious approach to compensation and more employees have joined the securities industry, which accounts for the slight decline in the average bonus.