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Exploring New York City Borough Economies
Two decades of growth has made the Bronx a shining example of inclusive innovation and economic growth in action, topping charts in borough-to-borough pair-ups. Between 2004 and 2014, private sector jobs in the Bronx grew 20%, second only to Brooklyn in terms of borough-wide job growth. Meanwhile, the borough has seen the City’s sharpest decline in the unemployment rate, at -1.9% during that period.
Home to nearly 2.6 million residents, Brooklyn is the most populous borough in New York City. Particularly over the last decade, the borough has become host to a thriving cultural scene and growing
innovation economy. As this Brooklyn Borough Report shows, private sector jobs grew 29.3%, a city record, unemployment is down to 6.1% after a recession high of 9.9%, and the number of residents with a Bachelor’s Degree is up 77% since 2004.
The Manhattan Borough Report demonstrates how the City’s historic birthplace is known throughout the globe as the economic and financial capital of the world - and for good reason. Not only is it home to iconic destinations like the Empire State Building, Times Square, and the New York Stock Exchange, it’s also home to more than 2 million private sector jobs - the highest share of all five boroughs - as well as the lowest unemployment rate in the city.
Queens covers 35% of New York City’s total area, making it the largest of the five boroughs and the second most populous county in New York State. With one of the most ethnically diverse urban populations in the world, Queens is an increasingly popular place to live, do business, and visit.
Staten Island is the City’s getaway island, a borough filled with historic architecture, stunning views, gardens and many family-friendly attractions.