New York City Industry Sector Dashboards

Securities Sector

New York City Industry Sector Dashboards

Anchored by Wall Street, New York City is considered the world’s leading financial center, home to the two largest exchanges on earth (NYSE and NASDAQ). Amid the COVID-19 pandemic, the financial securities subsector—which includes businesses that engage in securities underwriting activities, acting as agents between buyers and sellers of securities and commodities, and providing securities and commodity exchange and related services—exhibited great resiliency, managing significant demand for its services. The subsector was responsible for 15.7 percent of all economic activity in the City in 2020 and 7 percent of City tax collections in CFY 2021. Industry profitability reached its highest level in a decade in 2020 and is on pace to surpass that level in 2021. But with expected increases in federal interest rates to combat inflation, the sustainability going forward remains in question.