The United Nations Headquarters was completed in 1952, solidifying New York’s global geopolitical influence, and the rise of abstract expressionism in the city precipitated New York’s displacement of Paris as the center of the art world.
The Stonewall riots were a series of spontaneous, violent demonstrations by members of the gay community against a police raid that took place in the early morning hours of June 28, 1969, at the Stonewall Inn in the Greenwich Village neighborhood of Lower Manhattan. They are widely considered to constitute the single most important event leading to the gay liberation movement and the modern fight for LGBT rights.
In the 1970s, job losses due to industrial restructuring caused New York City to suffer from economic problems and rising crime rates. While a resurgence in the financial industry greatly improved the city’s economic health in the 1980s, New York’s crime rate continued to increase through that decade and into the beginning of the 1990s. By the mid 1990s, crime rates started to drop dramatically due to revised police strategies, improving economic opportunities, gentrification, and new residents, both American transplants and new immigrants from Asia and Latin America. Important new sectors, such as Silicon Alley, emerged in the city’s economy. New York’s population reached all-time highs in the 2000 Census and then again in the 2010 Census.
The city suffered the bulk of the economic damage and largest loss of human life in the aftermath of the September 11, 2001 attacks. Two of the four airliners highjacked that day were flown into the twin towers of the World Trade Center, destroying them and killing 2,192 civilians, 343 firefighters, and 71 law enforcement officers. The North Tower became the tallest building ever to be destroyed anywhere then or subsequently. The rebuilding of the area, has created a new One World Trade Center, and a 9/11 memorial and museum along with other new buildings and infrastructure. The World Trade Center PATH station, which had opened on July 19, 1909 as the Hudson Terminal, was also destroyed in the attack. A temporary station was built and opened on November 23, 2003. An 800,000-square-foot permanent rail station designed by Santiago Calatrava, the World Trade Center Transportation Hub, the city’s third-largest hub, was completed in 2016. The new One World Trade Center is the tallest skyscraper in the Western Hemisphere and the sixth-tallest building in the world by pinnacle height, with its spire reaching a symbolic 1,776 feet in reference to the year of U.S. independence.
New York is a global hub of business and commerce. The city is a major center for banking and finance, retailing, world trade, transportation, tourism, real estate, new media, traditional media, advertising, legal services, accountancy, insurance, theater, fashion, and the arts in the United States; while Silicon Alley, metonymous for New York’s broad-spectrum high technology sphere, continues to expand. The Port of New York and New Jersey is also a major economic engine, handling record cargo volume in 2017, over 6.7 million TEUs. New York City’s unemployment rate fell to its record low of 4.0% in September 2018.