NAICS 52

Finance and Insurance in New York: 2026 Market Risk Report

Entry risk 65.4 (High), ranked #49 of 51 states. 29,548 establishments, 532,752 jobs.

Entry Risk Assessment

Entry Risk Score 65.4
Low 0-30
Moderate 30-42
Elevated 42-55
High 55+
High Risk

ⓘ Lower is better. Relative to national finance and insurance average.

⛔High Barrier to Entry

New York's finance and insurance sector shows high establishment density (top 10 nationally) paired with firm retention in the bottom 5. This combination indicates elevated competitive pressure on new market entrants.

5-Year Firm Retention
7.8%
Percentile within industry
Rank #48 of 51 states
Growth Momentum
32.0
Scale of 0-100
Rank #25 of 51 states
Establishment Density
13.8
vs. national average
Rank #6 of 51 states
Market Volatility
0.5
Lower is more stable
Wage Pressure Index
88.1
Labor cost pressure

29,548 Establishments in New York

29,548
Establishments
+1.2% YoY
532,752
Total Employment
+0.1% YoY
$303,409
Average Annual Wage
+7.8% YoY

New York vs National Finance and Insurance Average

How New York's finance and insurance market compares to the national average across all 51 states.

Metric NY National Difference
Entry Risk Score 65.4 51.9 +13.5
5-Year Retention 7.8% 51.0% -43.2
Growth Momentum 32.0 34.4 -2.4
Market Volatility 0.5 9.6 -9.2
Establishment Density 13.8 42.5 -28.7
Wage Pressure 88.1 66.8 +21.3

Green = favorable vs national average. Red = less favorable. Metrics are relative within finance and insurance only.

New York Ranks #49 of 51 for Finance and Insurance

New York ranks #49 out of 51 states for finance and insurance market entry conditions.

Finance and Insurance Entry Risk by State

Rank State Risk Score Classification
#1 Hawaii 37.0 moderate
#2 West Virginia 39.8 moderate
#3 Kentucky 40.0 moderate
#4 Rhode Island 41.9 moderate
#5 Maine 42.0 elevated
#49 New York You 65.4 high
Entry Risk by State Alaska — 49.7 · #21 Alabama — 48.4 · #18 Arkansas — 44.7 · #7 Arizona — 52.6 · #29 California — 46.9 · #12 Colorado — 67.3 · #50 Connecticut — 73.7 · #51 District of Columbia — 47.9 · #13 Delaware — 57.7 · #44 Florida — 61.9 · #46 Georgia — 56.4 · #40 Hawaii — 37.0 · #1 Iowa — 54.3 · #35 Idaho — 56.2 · #39 Illinois — 46.2 · #10 Indiana — 45.4 · #9 Kansas — 57.0 · #42 Kentucky — 40.0 · #3 Louisiana — 42.0 · #6 Massachusetts — 48.2 · #15 Maryland — 52.6 · #30 Maine — 42.0 · #5 Michigan — 49.8 · #23 Minnesota — 46.6 · #11 Missouri — 57.7 · #43 Mississippi — 54.5 · #36 Montana — 59.0 · #45 North Carolina — 48.4 · #17 North Dakota — 52.1 · #28 Nebraska — 49.4 · #20 New Hampshire — 49.8 · #22 New Jersey — 53.2 · #32 New Mexico — 53.1 · #31 Nevada — 55.6 · #38 New York — 65.4 · #49 Ohio — 48.2 · #14 Oklahoma — 64.9 · #48 Oregon — 56.7 · #41 Pennsylvania — 48.8 · #19 Rhode Island — 41.9 · #4 South Carolina — 48.4 · #16 South Dakota — 50.1 · #24 Tennessee — 53.4 · #33 Texas — 50.4 · #25 Utah — 51.9 · #27 Virginia — 50.8 · #26 Vermont — 53.6 · #34 Washington — 55.5 · #37 Wisconsin — 45.3 · #8 West Virginia — 39.8 · #2 Wyoming — 62.0 · #47
Low Moderate Elevated High

Tap a state to view details

About Entry Risk Score: A weighted composite of firm retention, growth momentum, market volatility, establishment density, and wage pressure. Lower scores indicate more favorable conditions. Read full methodology →

Data Sources

Data period: 2024. Last updated: February 2026. Next refresh expected: Q2 2026 (BLS QCEW update).

Compare to Another State

How does New York stack up against other states for finance and insurance?

Select a state above to see the comparison

Finance and Insurance in Neighboring States

How New York's finance and insurance market compares to bordering states.

Massachusetts 48.2 #15/51 Pennsylvania 48.8 #19/51 New Jersey 53.2 #32/51 Vermont 53.6 #34/51 Connecticut 73.7 #51/51

Other Industries in New York

Construction → Healthcare and Social Assistance → Retail Trade → Accommodation and Food Services → Professional, Scientific, and Technical Services → Real Estate and Rental and Leasing → Administrative and Support Services → Information → Other Services →