GDP
New York's economy produces about $2.29 trillion a year — the third-largest state economy in the U.S. and larger than most countries.
Real GDP (chained 2017 dollars)
1997–2025BEA, chained 2017 dollars (FRED NYRGSP).
| Indicator | New York | U.S. |
|---|---|---|
| GDP per capita | $115,000 | $82,800 |
GDP Growth
New York's economy grew 2.3% in real terms in 2023, driven by finance, professional services and healthcare.
Real GDP growth
1998–2025Annual % change in BEA real GDP (NYRGSP).
Personal Income
New York has one of the highest per capita personal incomes in the country, boosted by finance and by high top-end earnings.
Per capita personal income
1970–2025BEA, current dollars (FRED NYPCPI).
Median Household Income
The median New York household earns about $81,600 a year, slightly above the national median, with wide regional differences.
Median household income (CPS)
1984–2025Census CPS ASEC, current dollars (FRED MEHOINUSNYA646N).
| Indicator | New York | U.S. |
|---|---|---|
| Median household income | $81,600 | $80,610 |
| Per capita income | $46,700 | $43,300 |
Poverty Rate
About 13.9% of New Yorkers live below the federal poverty line, above the national average — and high living costs make the effective rate worse.
Poverty rate, all ages (SAIPE)
1989–2024Census Small Area Income and Poverty Estimates (FRED PPAANY36000A156NCEN).
| Indicator | New York | U.S. |
|---|---|---|
| Poverty rate | 13.9% | 11.1% |
| Child poverty | 18.5% | 16.3% |
Inflation in New York
Consumer prices in the New York metro area rose 3.4% in 2023, close to the national rate but from a much higher base.
CPI inflation, U.S.
2007–2024BLS CPI-U U.S. city average, annual average change (CPIAUCNS).
CPI inflation, New York–Newark–Jersey City
2007–2025BLS CPI-U all items, New York–Newark–Jersey City, annual average change (CUURS12ASA0).
| Indicator | New York | U.S. |
|---|---|---|
| CPI change | +3.4% | +3.4% |
Economic Output
Output per worker in New York is among the highest in the country, reflecting its concentration of high-value services.
Nominal GDP (current dollars)
1997–2025BEA, current dollars (FRED NYNGSP).
| Indicator | New York | U.S. |
|---|---|---|
| GDP per worker | $238,000 | $175,000 |
Industry Breakdown
Finance and insurance, real estate, professional services and healthcare together account for more than half of New York's output.
Government jobs
1990–2025BLS Current Employment Statistics, annual average (FRED NYGOVT).
Manufacturing jobs
1990–2025BLS Current Employment Statistics, annual average (FRED NYMFG).
Construction jobs
1990–2025BLS Current Employment Statistics, annual average (FRED NYCONS).
| Indicator | New York | U.S. |
|---|---|---|
| Finance & insurance share | 19% | 8% |