Business report: The nation's two wealthiest areas - Hawaii News Now - KGMB and KHNL

Business report: The nation's two wealthiest areas

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HONOLULU (HawaiiNewsNow) -

The most affluent metro areas in the Republic are Washington D.C. and Silicon Valley. They have been for years, but Silicon Valley is now pulling away from D.C. This is median household income, adjusted for inflation, over the past decade. 

The steady line is the D.C. area, where so many people work for the federal government. Government employment is more stable and steady than employment in the private sector. But that’s also true of private sector employment of lobbyists and lawyers who work with government.

Silicon Valley is private sector, but it’s the race car component of the private sector, the nexus of fast-growing businesses, all competing for the best talent by offering ever higher wages and benefits. More than half of D.C. area households make more than $93,000 a year. More than half of Silicon Valley households make more than $102,000 a year.

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