Washington, D.C.: Richest Boom Town in America

By:  Sam Blumenfeld
10/24/2011
       
Washington, D.C.: Richest Boom Town in America

There are now about 2.6 million federal employees in the United States, including postal workers. Of these, 302,000 work in the D.C. area. With these employees earning over $100,000 a year, that’s more than enough to make metropolitan Washington, D.C., the most prosperous boom town in the United States.

According to the Washington Post’s Federal Eye:

Federal employees whose compensation averages more than $126,000 and the nation’s greatest concentration of lawyers helped Washington edge out San Jose as the wealthiest U.S. metropolitan area, government data show.

The U.S. capital has swapped top spots with Silicon Valley, according to recent Census Bureau figures, with the typical household in the Washington metro area earning $84,523 last year. The national median income for 2010 was $50,046.

The figures demonstrate how the nation’s political and financial classes are prospering as the economy struggles with unemployment above nine percent and thousands of Americans protest in the streets against income disparity, said Kevin Zeese, director of Prosperity Agenda, a Baltimore-based advocacy group trying to narrow the divide between rich and poor.

There are now about 2.6 million federal employees in the United States, including postal workers. Of these, 302,000 work in the D.C. area. With these employees earning over $100,000 a year, that’s more than enough to make metropolitan Washington, D.C., the most prosperous boom town in the United States.

According to the Washington Post’s Federal Eye:

Federal employees whose compensation averages more than $126,000 and the nation’s greatest concentration of lawyers helped Washington edge out San Jose as the wealthiest U.S. metropolitan area, government data show.

The U.S. capital has swapped top spots with Silicon Valley, according to recent Census Bureau figures, with the typical household in the Washington metro area earning $84,523 last year. The national median income for 2010 was $50,046.

The figures demonstrate how the nation’s political and financial classes are prospering as the economy struggles with unemployment above nine percent and thousands of Americans protest in the streets against income disparity, said Kevin Zeese, director of Prosperity Agenda, a Baltimore-based advocacy group trying to narrow the divide between rich and poor.

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Sam Blumenfeld (photo)

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