There’s a reason why a survey reflects a very different scenario.
Should some research firms reset their surveys for a more credible result? That’s what we’re asking after accessing Forbes’ highest median incomes survey based on the United States Census Bureau’s list. Undoubtedly, the wealthiest areas in the country made the list with the Bridgeport, Conn., San Jose, Calif., and Washington, D.C., metros topping the list. But what caught our attention is this part of the report:
“…Though the economic news has been dismal across the country, all 20 of the highest-earning cities in the U.S. saw higher incomes than in 2007. In part, this can be explained by timing: The survey asked Americans about calendar year 2008, which hit workers the hardest only at the end of the year.”
Okay, before announcing to everyone that there are still cities managing to keep their heads above recessionary waters, why not emphasize more on this more interesting part? Reading the first part of the report already made us wonder why San Jose is on the list with a median family income of $103,164? In the fourth spot, San Francisco has a median income of $94,236. Are people too blind not to notice the high foreclosure rates in California? Then again, we give them the benefit of the doubt (if there’s any by the way).
We’re looking forward to the next survey but then again, that will be a year from now so the jobless rate can spike higher and leave more families in financial distress. Now that’s more credible.