This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Incomes Are Up the Most in Washington, D.C.

NEW YORK ( TheStreet) -- The U.S. economy has a lot of moving parts, along with substantial geographical disparity from state to state, city to city, town to town.

The Census Bureau knows this, and has taken the barometer out to measure the most prosperous cities in the country.

The agency's American Community Survey aims to benchmark income, poverty and health insurance across the 50 states and, somewhat surprisingly, income and poverty levels aren't all that different in our cities (with some exceptions, as laid out below.) It suggests the economic recovery is fairly stable, and the economy seems to be raising boats in uniform fashion.

Still, one city has to finish at the top of the Census Bureau's list of most prosperous metropolitan areas, and this year, that city is Washington, D.C..

According to the survey, the District of Columbia saw its median household income rise 23% from 2000 to last year, winding up at $66,583 from $53,995.

No doubt the nation's capital is doing so well because it's home to so many federal government agencies, including the White House and executive branch, the Federal Trade Commission, the FBI, Internal Revenue Service and scores of others. The budget for the Department of Defense alone stood at $553 billion last year, guaranteeing thousands of jobs for the D.C. metropolitan areas.

Other region are doing well for different reasons.

North Dakota, thanks to a boom in oil and natural gas, saw its median household income rise by 17% in the past dozen years. Tens of thousands of jobs have opened up as energy companies descend on the Roughrider State.

Other states experiencing income booms are Louisiana (up 4.2% thanks to an influx of oil and gas jobs) and South Dakota (up 4.1% primarily due to the same fracking boom boosting its northern neighbor.)

On the flip side, a decline in manufacturing jobs, especially in the auto sector, has decimated Michigan.

Income declines in Michigan are down almost 20% from 2000 to last year as auto manufacturers move their jobs to states with more affordable worker compensation rates and to countries such as Mexico, where the average per-hour salary is only $4 to $5 per hour, compared with $28 per hour in Michigan.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 0.00%
FB $118.57 0.00%
GOOG $698.21 0.00%
TSLA $241.80 0.00%
YHOO $36.53 0.00%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs