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D.C. income rose 1.7 percent last year, Jordan Weissmann notes

D.C. income rose 1.7 percent last year, Jordan Weissmann notes
D.C. income growth slows in 2024

Jordan Weissmann examines the impact of DOGE on the District of Columbia's tax base.

According to Weissmann, from 2021 through 2024, personal income for D.C. residents grew at a strong pace of over 6 percent per year. However, last year growth slowed to just 1.7 percent, which was well below inflation.

Weissmann previously reported that Washington, D.C. experienced a 5.4 percent job decline compared to a 6.2 percent employment loss in the 2007–2009 period. He has also written that expanding retirement benefits has shifted resources from younger workers to older generations. The recent slowdown in income growth follows these earlier trends tracked by Weissmann.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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