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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs