The New York metropolitan area includes parts of northern New Jersey, Connecticut, and Pennsylvania. New York City proper (population 8.1 million) is divided into 5 boroughs, each with its unique character: Manhattan, the Bronx, Staten Island, Queens, and Brooklyn, the latter two located on Long Island.
In 2004, New Yorkers made an average of $43,277, 31% over the national average. According to the US Department of Commerce's Bureau of Economic Analysis, average income has grown 6.7% over the past 35 years.
While New York and its economy were profoundly affected by the attacks on the World Trade Center on September 11, 2001, New York remains the country's center for these sectors:
- Business
- Finance
- Fashion
- Media and culture
In addition to the New York Stock Exchange and NASDAQ, New York is home to more Fortune 500 companies than any other city. The area's largest employers include:
- Mount Sinai Medical Center
- Merrill Lynch
- JP Morgan
- Verizon
As New York has seen a recent decline in the industrial and manufacturing sectors, the service industry is growing, while finance and biotechnology remain strong.
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