personal income

Personal Income, Consumption & Outlays for October 2010

The BEA economic report personal income & outlays was released last Wednesday, but since PCE greatly affects GDP, it's worth reviewing, despite the tardiness of this piece.

Personal income increased 0.5% in October and PCE or personal consumption expenditures increased 0.3%. In September personal income was a big fat 0%. Below is the percent change in personal income and then the raw values.

Personal Income for Metropolitian Areas in 2009

Personal Income by Cities dropped -1.8%, on average, for 2009. Per capita metropolitan income plunged -2.8% last year. The BEA release tells an even more troubling story. The only income gains where from government payments via unemployment insurance, social security, disability benefits (transfer receipts) and government jobs.

 

Personal Income & Outlays for June 2010

Personal Income and Outlays for June 2010 was released today. While overall income is flat, wages and salaries are down.

Private wage and salary disbursements decreased $5.2 billion in June, in contrast to an increase of $19.2 billion in May. Goods-producing industries' payrolls decreased $8.9 billion, in contrast to an increase of $10.4 billion; manufacturing payrolls decreased $6.0 billion, in contrast to an increase
of $7.8 billion. Services-producing industries' payrolls increased $3.7 billion, compared with an increase of $8.8 billion. Government wage and salary disbursements decreased $0.6 billion, in contrast to an increase of $7.0 billion. The decline in the number of temporary workers for Census 2010 subtracted $3.4 billion at an annual rate from federal civilian payrolls in June; the hiring of additional temporary workers had added $5.7 billion at an annual rate in May.

 

Personal Income & Outlays for March 2010

Personal Income and Outlays for March 2010 was released today. Once again, Americans' spending is increasing more than their incomes. Even more interesting, the increase in unemployment insurance benefit payouts equaled the increase in wages and salaries from private industries, $11.8 billion, at a seasonally adjusted annual rate. The total government transfer payments was over 66% of the personal income growth for March.

Personal income increased $36.0 billion, or 0.3 percent, and disposable personal income (DPI) increased $32.3 billion, or 0.3 percent. Personal consumption expenditures (PCE) increased $58.6 billion, or 0.6 percent.

 

Personal Income

Out of this quarter's GDP report are some updates on personal income, disposable personal income, the personal savings rate and taxes.

Recall real personal income means it has been adjusted for inflation. Below is this quarter's data along with graphs.

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