Personal incomes fell across the U.S. last year except in areas with a high concentration of federal government and military jobs, the Commerce Department said Monday. They declined most in places with a lot of housing and finance jobs.
Among the 52 metro areas with populations of more than one million, in only three did both net earnings and the broader measure of personal income both rise.
All three had strong ties to the federal government: the Washington, D.C., area and two areas with a large military presence, San Antonio and Virginia Beach, Va. In all three, the biggest gains were among workers in the federal government and the military; private sector compensation fell.
The same picture was reflected nationally, as private employers froze and in many cases reduced workers’ pay and hours.
Full Story: Incomes Fall in Most Metro Areas – WSJ.com
SMALL TOWNS, SKY HIGH PUBLIC PAY