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Personal income of San Diego residents grew faster in '20 than any point on record
San Diego County residents saw their income rise at a record high in the first pandemic year.The wallets of San Diegans were fatter in 2020 thanks to stimulus money, stock market gains and a strong economy despite the pandemic.
San Diego County residents saw their real personal income increase 6.4 percent last year. That’s up from a 1.1 percent gain in 2019, according to data released Tuesday by the U.S. Department of Commerce’s Bureau of Economic Analysis.
The local gain beat the national increase of 5.3 percent. It marked the biggest annual increase in personal income for the San Diego metro area since the bureau began tracking county-level data back in 2008.
The data comes with a few caveats: In addition to lagging by a year, it also doesn’t separate out different income classes. So, where the majority might have seen a jump, it doesn’t account for some low-wage workers who were more likely to lose income in 2020 because their jobs couldn’t be done remotely during COVID-19 shutdowns.
https://www.sandiegouniontribune.com/business/economy/story/2021-12-14/personal-income-of-san-diego-residents-grew-faster-in-20-than-any-point-on-record