Business

New Yorkers’ Income Falling Fast

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A Wallet - File / Photo: Joe Raedle/Getty Images

A Wallet – File / Photo: Joe Raedle/Getty Images

Mary Calvi thumbnail Mary Calvi
Mary Calvi serves as anchor for CBS 2 News This Morning and CBS 2 News...
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NEW YORK (CBS 2) — Economic times are tough all over, and the Big Apple is no exception.

For the first time in 70 years, income is falling for New Yorkers.

According to a New York state comptroller’s report, salaries are shrinking at a rate nearly twice that of the rest of the country, falling 3.1 percent this year.

Much of the blame is placed on Wall Street’s sinking fortunes.

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