U.S. Incomes Tumbled in 2009
(Wall Street Journal) — Personal income took a hit in most of the U.S. last year with the only gains coming from government support, according to new data from the Commerce Department. Income declined in 223 metro areas last year, increased in 134 and was unchanged in nine regions. Even though prices declined last year — down 0.2% from a year earlier as measured by the national price index for personal consumption expenditures — incomes fell even more. On average, personal income dropped 1.8% in 2009, following a 2.7% increase in 2007.