The current restructuring of the American
economy from goods producing industry
to service providing industry has
been a focus of concern for many social
scientists. While some argue in favor of
the rapidly expanding service sector,
pointing out that growth in services creates
employment and generates income,
others emphasize that many service sector
jobs pay considerably less than comparable
manufacturing sector jobs, which
continue to be lost in many metropolitan
areas. The Finance, Insurance and Real
Estate (F.I.R .E.) industry in particular, is a
branch of the service sector that is often
associated with the generation of affluence
and productivity. This paper examines
the importance of the F.I.R.E. industry
in 57 Primary Metropolitan Statistical
Areas and 3 New England County Metropolitan
Areas, and discusses how agglomeration
in this industry mayor may
not be related to per capita income in
these Metropolitan Area
