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New York Personal Income Drops For First Time in 70 Years

First Posted: 10/06/10 10:21 AM ET Updated: 05/25/11 06:55 PM ET

Money

NEW YORK (Reuters) - The recession put a 3.1 percent dent in the personal incomes of New York state residents, who endured their first full-year decline in more than 70 years, according to a report released on Tuesday.

Paychecks or net earnings tumbled 5.4 percent, while dividends, interest and rent slid 8.4 percent, to a grand total of nearly $908 billion, the state comptroller's report said.

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Filed by Jonah Green  |