States and metro areas that depend heavily on energy and agriculture, such as Texas and Iowa, saw median household income rise
The recession hammered household income across the nation, USA Today reported, but nearly a quarter of the states remained pockets of prosperity, with wages and other earnings growing through the downturn, according to a new study.
From 2005 through 2010 — a time period that also covers years before and after the recession — states and metro areas that depend heavily on energy and agriculture, such as Texas and Iowa, saw median household income rise, after adjusting for inflation, Sentier Research says in its analysis of U.S. Census data. Although the recession drove down the prices of oil, food and other commodities, surging demand from emerging markets such as China kept prices from plummeting and allowed producers to reap profits and avoid layoffs.
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