Manhattan

Manhattan is the oldest and the most densely populated of the five boroughs of New York City. Located primarily on Manhattan Island at the mouth of the Hudson River, the boundaries of the borough are identical to those of New York County, an original county of the state of New York. The borough and county consist of Manhattan Island and several small adjacent islands: Roosevelt Island, Randall's Island, Wards Island, Governors Island, Liberty Island, part of Ellis Island, Mill Rock, and U Thant Island; as well as Marble Hill, a very small area on the mainland bordering the Bronx. The original city of New York began at the southern end of Manhattan, expanded northwards, and then between 1874 and 1898, annexed land from surrounding counties.

The County of New York is the most densely populated county in the United States, and one of the most densely populated areas in the world, with a 2008 population of 1,634,795 living in a land area of 22.96 square miles (59.47 km²), or 71,201 residents per square mile (27,485/km²). It is also one of the wealthiest counties in the United States, with a 2005 personal income per capita above $100,000. Manhattan is the third-largest of New York's five boroughs in population, and its smallest borough in size.

Manhattan is a major commercial, financial, and cultural center of both the United States and the world. Anchored by Wall Street in Lower Manhattan, New York City vies with the City of London as the financial capital of the world and is home of both the New York Stock Exchange and NASDAQ. Many major radio, television, and telecommunications companies in the United States are based here, as well as many news, magazine, book, and other media publishers.

Manhattan has many famous landmarks, tourist attractions, museums, and universities. It is also home to the headquarters of the United Nations. It is the center of New York City and the New York metropolitan region, hosting the seat of city government and a large portion of the area's employment, business, and entertainment activities. As a result, residents of New York City's other boroughs such as Brooklyn and Queens often refer to a trip to Manhattan as "going to the city", despite the comparable populations between those boroughs.

Economy

Manhattan is the economic engine of New York City, with its 2.3 million workers drawn from the entire New York metropolitan area accounting for almost two-thirds of all jobs in New York City.Manhattan's daytime population swells to 2.87 million, with commuters adding a net 1.34 million people to the population. This commuter influx of 1.46 million workers coming into Manhattan was the largest of any other county or city in the country, and was more than triple the 480,000 commuters who headed into second-ranked Washington, D.C.

Its most important economic sector is the finance industry, whose 280,000 workers earned more than half of all the wages paid in the borough. The securities industry, best-known by its center in Wall Street, forms the largest segment of the city's financial sector, accounting for over 50% of the financial services employment. Before the financial crisis of 2008, the five largest securities-trading firms in the U.S. had their headquarters in Manhattan.

In 2006, those in the Manhattan financial industry earned an average weekly pay of about $8,300 (including bonuses), while the average weekly pay for all industries was about $2,500. This was the highest in the country's 325 largest counties, and the salary growth of 8% was the highest among the ten largest counties. Pay in the borough was 85% higher than the $784 pay earned weekly nationwide and nearly double the amount earned by workers in the outer boroughs. The health care sector represents about 11% of the borough's jobs and 4% of total compensation, with workers taking home about $900 per week.

New York City is home to the most corporate headquarters of any city in the nation, the overwhelming majority based in Manhattan. Midtown Manhattan is the largest central business district in the United States. Lower Manhattan is the nation's third-largest central business district (after Chicago's Loop) and is home to the New York Stock Exchange, the American Stock Exchange (Amex), the New York Board of Trade, the New York Mercantile Exchange (Nymex) and NASDAQ.

Seven of the world's top eight global advertising agency networks are headquartered in Manhattan."Madison Avenue" is often used metonymously to refer to the entire advertising field, after Madison Avenue became identified with the advertising industry after the explosive growth in the area in the 1920s.

Manhattan's workforce is overwhelmingly focused on white collar professions, with manufacturing (39,800 workers) and construction (31,600) accounting for a small fraction of the borough's employment.

Historically, this corporate presence has been complemented by many independent retailers, though a recent influx of national chain stores has caused many to lament the creeping homogenization of Manhattan.