Commerce Department Reports Incomes Fell
STEVE INSKEEP, host:
NPR's business news starts with your thickening - or thinning - wallet.
(Soundbite of music)
INSKEEP: Many Americans saw their take-home income fall last year. That's according to new numbers out from the Commerce Department. Incomes fell in 49 of the country's 52 biggest metropolitan areas. The only areas that saw incomes rise were Washington, D.C., San Antonio and Virginia Beach.
All three cities have something in common: a strong presence by the federal government or the military. Cities that had a lot of jobs in housing and finance had the biggest declines in incomes.
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