Consumer spending on the rise again in March 2022
Personal Income and Its Disposition Report U.S. Economy
Modified 2022-05-04T17:45:47-04:00
Goran Soko / CSIMarket.com Contributer
Consumer dipped into their savings to ramp up spending in March 2022, as spending increase outpaced growth in disposable income, according to the latest government data.
Personal income grew in March 2022 by 0.5 % on the seasonally adjusted basis at the annualized rate of $21.34 trillion, reported by the Commerce Department. Meanwhile, disposable income, money left over after taxes, grew by 0.5 %, as well, lifting average American income to $55,646 at the annualized rate. |
Personal consumption expenditures has climbed by 1.1 %. The pattern of income and spending growth in March 2022 halts a recent trend. Consumers had been financing their purchases mainly by dipping into their savings. Since spending rose more than income, the individual savings in March 2022 rate fell to 6.2 % from 6.3 % of disposable income, but interest income rose, in contrast to the declining savings rate.
At least through March 2022, households continued to spend, but rising prices are eating up a lot of that money.
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Private
industries |
Goods-producing
industries |
Services |
Government |
|
1.01% |
14.09% |
0.93% |
11.62% |
1.02% |
14.67% |
0.29% |
8.99% |
M/M |
Y/Y |
M/M |
Y/Y |
M/M |
Y/Y |
M/M |
Y/Y |
|
Wages have increased by smaller rate than a month ago, led by Services-producing industries by 1.02 %, the supplements to wages and salaries grew less than total wages, as employer boost contributions for government social insurance.
For the year 2022, consumer spending grew faster than income, resulting in lower savings rate 12.3 %, consumer spent 17.8 % more, while income grew 7.4 %, disposable income grew by 6.1 %.
|
| |
Compensation |
|
|
Compensation |
|
|
Compensation of employees
Compensation of employees
grew by 0.83 % from Feb. 2022 and
advanced by 12.02 % from March 2021, while wage & salary disbursements
rose by 0.90 % sequentially and
grew by 13.33 % from same month year ago, now representing 82.53
% of total compensation of employees. |
|
|
Supplements to Wages
Supplements to wages & salaries now representing 17.47
% of total compensation of employees with an
increase of 0.50 % from Feb. 2022 and an
increase by 6.23 % from March 2021.
|
| Compensation |
Compensation of employees
Compensation of employees
grew by 0.83 % from Feb. 2022 and
advanced by 12.02 % from March 2021, while wage & salary disbursements
rose by 0.90 % sequentially and
grew by 13.33 % from same month year ago, now representing 82.53
% of total compensation of employees. |
| Compensation |
Supplements to Wages
Supplements to wages & salaries now representing 17.47
% of total compensation of employees with an
increase of 0.50 % from Feb. 2022 and an
increase by 6.23 % from March 2021. |
| |
|
Wage
& salary disbursements |
| Wages
& Salaries from private industries
rose by
1.01 % sequentially and
grew by
14.09 % from same month year ago, now representing 85.67
% of total wage & salary disbursements, while
Wages & Salaries from government
grew by
0.29 % from Feb. 2022 and
increased by
8.99 % from March 2021, now representing
14.33
% of total wage & salary disbursements. |
|
|
Personal Income Receipts On Assets |
|
|
Capital Consumption |
|
|
|
Interest & Other
Personal interest income
went up by
0.68 % sequentially while Personal dividend income
grew by
0.35 % from Feb. 2022. Compare to same quarter
a year ago, personal interest income
went up by
2.26 % and personal dividend income
grew by
6.30 %.
Personal interest payments excluding mortgage interests
increased by
2.47 % sequentially and
advanced by
9.50 % from same month year ago. |
|
|
Proprietors Income & Capital Consumption
Proprietors Income
advanced by
1.95 % sequentially and
grew by
4.06 % from same month year ago, now representing 8.90
% of total personal income.
Rental Income with capital consumption adjustment grew by
0.58 % from Feb. 2022 and
fell by
-7.58 % from same month year ago.
|
| Personal Income Receipts On Assets |
Interest & Other
Personal interest income
went up by
0.68 % sequentially while Personal dividend income
grew by
0.35 % from Feb. 2022. Compare to same quarter
a year ago, personal interest income
went up by
2.26 % and personal dividend income
grew by
6.30 %.
Personal interest payments excluding mortgage interests
increased by
2.47 % sequentially and
advanced by
9.50 % from same month year ago. |
| Capital Consumption |
Proprietors Income & Capital Consumption
Proprietors Income
advanced by
1.95 % sequentially and
grew by
4.06 % from same month year ago, now representing 8.90
% of total personal income.
Rental Income with capital consumption adjustment grew by
0.58 % from Feb. 2022 and
fell by
-7.58 % from same month year ago. |
Personal
Income & Its Disposition
(Monthly at Annual rates,
in Billions $) |
|
March 2022
adv. |
Feb. 2022
adv. |
Jan. 2022
adv. |
Dec. 2021
adv. |
Nov. 2021
adv. |
Oct. 2021
adv. |
| Personal income |
|
21,338.4 |
21,153.3 |
21,043.6 |
21,034.6 |
20,868.2 |
20,783.3 |
|
Compensation of employees, received |
|
13,417.2 |
13,306.4 |
13,207.9 |
13,147.1 |
12,957.4 |
12,911.3 |
| Wage
& salary disbursements |
|
11,073.6 |
10,974.5 |
10,887.4 |
10,837.5 |
10,665.5 |
10,626.3 |
| Private
industries |
|
9,487.2 |
9,392.7 |
9,312.8 |
9,269.2 |
9,104.9 |
9,068.2 |
| Goods-producing
industries |
|
1,753.7 |
1,737.5 |
1,716.1 |
1,710.9 |
1,688.1 |
1,678.4 |
|
Manufacturing |
|
1,018.7 |
1,008.9 |
1,002.4 |
999.4 |
1,009.4 |
1,005.2 |
|
Services-producing industries |
|
7,733.5 |
7,655.2 |
7,596.7 |
7,558.3 |
7,416.8 |
7,389.8 |
|
Trade, transportation, & utilities |
|
1,722.2 |
1,712.3 |
1,677.8 |
1,681.7 |
1,650.1 |
1,651.3 |
|
Other services-producing industries |
|
6,011.2 |
5,942.8 |
5,918.9 |
5,876.7 |
5,766.7 |
5,738.5 |
| Government |
|
1,586.4 |
1,581.8 |
1,574.6 |
1,568.3 |
1,560.6 |
1,558.1 |
|
Supplements to wages & salaries |
|
2,343.6 |
2,331.9 |
2,320.6 |
2,309.6 |
2,291.9 |
2,285.0 |
| Employer
contr. for employee pension & insur. |
|
1,565.3 |
1,560.3 |
1,554.8 |
1,549.4 |
1,543.3 |
1,538.8 |
| Employer
contr. for govt. social insurance |
|
778.4 |
771.6 |
765.7 |
760.2 |
748.6 |
746.2 |
|
Proprietors Income with invent. valu. |
|
1,900.1 |
1,863.7 |
1,847.9 |
1,840.0 |
1,855.0 |
1,840.8 |
| Farm |
|
124.2 |
107.5 |
96.3 |
84.6 |
84.2 |
86.8 |
| Nonfarm |
|
1,775.9 |
1,756.3 |
1,751.6 |
1,755.3 |
1,770.8 |
1,754.1 |
|
Rental Inc. with capital consumption adj. |
|
761.3 |
756.9 |
750.9 |
753.0 |
752.6 |
739.0 |
|
Personal income receipts on assets |
|
3,026.1 |
3,010.1 |
3,011.9 |
3,002.3 |
2,977.6 |
2,978.8 |
| Personal interest
income |
|
1,694.2 |
1,682.8 |
1,668.6 |
1,663.1 |
1,648.1 |
1,651.5 |
| Personal dividend
income |
|
1,332.0 |
1,327.3 |
1,343.3 |
1,339.3 |
1,329.5 |
1,327.3 |
|
Personal current transfer receipts |
|
3,931.3 |
3,900.6 |
3,897.7 |
3,949.5 |
3,960.1 |
3,942.7 |
|
Government social benefits to persons |
|
3,862.9 |
3,832.5 |
3,830.3 |
3,882.1 |
3,893.4 |
3,867.6 |
| Old-age,
disability, & health insurance benefits |
|
1,199.0 |
1,197.0 |
1,193.7 |
1,125.1 |
1,126.7 |
1,129.6 |
| Government
unemployment insurance benefits |
|
883.6 |
875.2 |
866.3 |
856.9 |
847.5 |
839.3 |
| Other |
|
816.0 |
807.4 |
785.8 |
781.3 |
784.2 |
788.2 |
|
Other current transfers, from business |
|
-68.4 |
-68.0 |
-67.4 |
-67.4 |
-66.7 |
-75.1 |
|
Contributions for govt. social insurance |
|
-1,697.6 |
-1,684.2 |
-1,672.6 |
-1,657.2 |
-1,634.5 |
-1,629.4 |
| Personal current taxes |
|
2,818.6 |
2,792.6 |
2,767.4 |
2,778.2 |
2,699.4 |
2,675.0 |
| Disposable personal
income |
|
-18,519.8 |
-18,360.8 |
-18,276.3 |
-18,256.4 |
-18,168.8 |
-18,108.3 |
| Personal outlays |
|
17,368.5 |
17,212.2 |
17,105.4 |
16,763.2 |
16,918.5 |
16,786.6 |
|
Personal consumption expenditures |
|
5,860.3 |
5,827.2 |
5,826.5 |
5,541.1 |
5,714.1 |
5,693.6 |
| Goods |
|
5.9 |
5.8 |
5.8 |
5.5 |
5.7 |
5.7 |
| Durable
goods |
|
2,090.8 |
2,153.7 |
2,181.2 |
1,988.9 |
2,082.8 |
2,076.5 |
| Nondurable
goods |
|
3,769.5 |
3,673.5 |
3,645.3 |
3,552.2 |
3,631.3 |
3,617.1 |
| Services |
|
11,002.4 |
10,886.1 |
10,789.5 |
10,737.8 |
10,709.1 |
10,597.1 |
|
Personal interest payments |
|
282.4 |
275.6 |
266.3 |
261.6 |
275.0 |
275.7 |
|
Personal current transfer payments |
|
223.4 |
223.4 |
223.1 |
222.8 |
220.3 |
220.2 |
| To government |
|
118.4 |
118.2 |
118.0 |
117.7 |
117.5 |
117.2 |
| To the rest
of the world |
|
105.0 |
105.2 |
105.1 |
105.1 |
102.8 |
102.9 |
| Personal saving |
|
1.2 |
1.1 |
1.2 |
1.5 |
1.3 |
1.3 |
| Personal saving as
a percentage of disposable personal income % |
|
6.20 % |
6.30 % |
6.40 % |
8.20 % |
6.90 % |
7.30 % |
| Disposable personal
income: |
|
|
|
|
|
|
|
| Total, billions of chained
($) dollars Y 2000 |
|
14,388.7 |
14,373.4 |
14,362.8 |
14,393.3 |
14,307.2 |
14,345.3 |
| Per capita: |
|
|
|
|
|
|
|
| Current dollars ($) |
|
55,646 |
55,179 |
54,936 |
54,883 |
54,758 |
54,590 |
| Chained ($) dollars Y 2000 |
|
45,997 |
45,970 |
46,018 |
46,236 |
46,335 |
46,501 |
| Population (midperiod,
millions) |
|
332.81 |
332.75 |
332.68 |
332.64 |
331.80 |
331.72 |
Percentage Change in Personal Income & Its Disposition
(month on month seasonally adj. at annual rates, in %) |
March 2022
rest. |
Feb. 2022
rest. |
Jan. 2022
rest. |
Dec. 2021
rest. |
Nov. 2021
rest. |
Oct. 2021
rest. |
| Personal income |
0.5 % |
0.5 % |
- % |
0.4 % |
0.4 % |
0.5 % |
| Compensation of employees,
received |
0.5 % |
0.7 % |
0.5 % |
0.7 % |
0.4 % |
0.8 % |
| Wage & salary disbursements |
0.6 % |
0.8 % |
0.5 % |
0.7 % |
0.5 % |
0.8 % |
| Supplements to wages &
salaries |
0.4 % |
0.5 % |
0.5 % |
0.4 % |
0.3 % |
0.4 % |
| Proprietors' Income |
0.8 % |
0.8 % |
0.4 % |
-1.3 % |
-0.3 % |
- % |
| Rental Income
of Persons |
0.7 % |
0.7 % |
-0.3 % |
0.7 % |
1 % |
0.3 % |
| Personal income receipts
on assets |
0.4 % |
0.2 % |
0.3 % |
0.6 % |
0.3 % |
0.9 % |
| Personal interest income |
0.5 % |
0.5 % |
0.3 % |
0.5 % |
0.3 % |
0.6 % |
| Personal dividend income |
0.2 % |
-0.2 % |
0.3 % |
0.7 % |
0.2 % |
1.2 % |
| Personal current
transfer receipts |
0.3 % |
-0.3 % |
-1.3 % |
- % |
0.8 % |
-0.5 % |
| Less:
Contributions for social insurance |
0.5 % |
0.7 % |
0.9 % |
0.6 % |
0.4 % |
0.7 % |
| Less: Personal
current taxes |
0.6 % |
0.9 % |
-0.4 % |
1.2 % |
0.7 % |
1.2 % |
| Equals: Disposable personal
income |
0.5 % |
0.4 % |
0.1 % |
0.2 % |
0.4 % |
0.3 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Personal consumption
expenditures |
1.1 % |
0.2 % |
2.1 % |
-0.8 % |
0.6 % |
1.3 % |
| Goods |
1.2 % |
-1 % |
5.2 % |
-3.2 % |
0.1 % |
2.2 % |
| Durable goods |
-1 % |
-2.5 % |
9.7 % |
-5.1 % |
-0.6 % |
3.3 % |
| Nondurable goods |
2.5 % |
-0.1 % |
2.6 % |
-2.2 % |
0.5 % |
1.6 % |
| Services |
1.1 % |
0.9 % |
0.5 % |
0.5 % |
0.9 % |
0.9 % |
| Based on chained (2000) dollar measures |
|
|
|
|
|
|
| Real disposable personal
income |
-0.4 % |
-0.2 % |
-0.5 % |
-0.3 % |
-0.2 % |
-0.3 % |
Personal
Income & Its Disposition
(Quarterly,
in Billions $) |
|
I Q. 2022
adv. |
IV Q. 2021
adv. |
IV Q. 2021
adv. |
III Q. 2021
adv. |
III Q. 2021
adv. |
III Q. 2021
adv. |
| Personal income |
|
21,215.6 |
20,947.7 |
20,946.1 |
20,797.8 |
20,797.8 |
20,802.7 |
|
Compensation of employees, received |
|
13,325.8 |
13,061.4 |
13,060.2 |
12,726.8 |
12,726.8 |
12,729.9 |
| Wage
& salary disbursements |
|
10,992.8 |
10,761.6 |
10,760.6 |
10,459.5 |
10,459.5 |
10,462.4 |
| Private
industries |
|
9,411.0 |
9,195.8 |
9,195.2 |
8,905.3 |
8,905.3 |
8,908.2 |
| Goods-producing
industries |
|
1,739.4 |
1,700.9 |
1,700.2 |
1,657.3 |
1,657.3 |
1,657.8 |
|
Manufacturing |
|
1,011.1 |
992.5 |
992.6 |
993.2 |
993.2 |
993.7 |
|
Services-producing industries |
|
7,671.7 |
7,494.9 |
7,495.0 |
7,248.0 |
7,248.0 |
7,250.5 |
|
Trade, transportation, & utilities |
|
1,709.8 |
1,670.7 |
1,669.9 |
1,620.9 |
1,620.9 |
1,621.2 |
|
Other services-producing industries |
|
5,961.8 |
5,824.2 |
5,825.1 |
5,627.1 |
5,627.1 |
5,629.3 |
| Government |
|
1,581.7 |
1,565.8 |
1,565.4 |
1,554.2 |
1,554.2 |
1,554.2 |
|
Supplements to wages & salaries |
|
2,333.1 |
2,299.8 |
2,299.6 |
2,267.3 |
2,267.3 |
2,267.5 |
| Employer
contr. for employee pension & insur. |
|
1,560.2 |
1,544.6 |
1,544.5 |
1,531.9 |
1,531.9 |
1,531.8 |
| Employer
contr. for govt. social insurance |
|
772.9 |
755.2 |
755.1 |
735.5 |
735.5 |
735.7 |
|
Proprietors Income with invent. valu. |
|
1,880.9 |
1,858.5 |
1,854.8 |
1,867.0 |
1,867.0 |
1,854.2 |
| Farm |
|
110.4 |
88.0 |
88.3 |
110.6 |
110.6 |
107.5 |
| Nonfarm |
|
1,770.6 |
1,770.5 |
1,766.5 |
1,756.3 |
1,756.3 |
1,746.7 |
|
Rental Inc. with capital consumption adj. |
|
756.2 |
743.6 |
747.7 |
729.0 |
729.0 |
728.0 |
|
Personal income receipts on assets |
|
3,015.0 |
2,989.2 |
2,986.7 |
2,945.2 |
2,945.2 |
2,949.8 |
| Personal interest
income |
|
1,684.9 |
1,656.8 |
1,655.1 |
1,636.3 |
1,636.3 |
1,640.7 |
| Personal dividend
income |
|
1,330.1 |
1,332.4 |
1,331.6 |
1,308.8 |
1,308.8 |
1,309.1 |
|
Personal current transfer receipts |
|
3,924.4 |
3,942.2 |
3,943.7 |
4,137.5 |
4,137.5 |
4,148.7 |
|
Government social benefits to persons |
|
3,856.7 |
3,875.5 |
3,877.0 |
4,069.6 |
4,069.6 |
4,080.8 |
| Old-age,
disability, & health insurance benefits |
|
810.4 |
782.9 |
781.6 |
775.0 |
775.0 |
786.3 |
| Government
unemployment insurance benefits |
|
355.0 |
338.4 |
338.4 |
324.6 |
324.6 |
324.6 |
| Other |
|
770.8 |
911.0 |
913.7 |
916.2 |
916.2 |
916.1 |
|
Other current transfers, from business |
|
-67.7 |
-66.7 |
-66.7 |
-67.9 |
-67.9 |
-67.9 |
|
Contributions for govt. social insurance |
|
-1,686.7 |
-1,647.2 |
-1,647.0 |
-1,607.6 |
-1,607.6 |
-1,608.0 |
| Personal current taxes |
|
2,796.2 |
2,744.9 |
2,744.4 |
2,623.7 |
2,623.7 |
2,619.2 |
| Disposable personal
income |
|
-18,419.4 |
-18,202.8 |
-18,201.7 |
-18,174.1 |
-18,174.1 |
-18,183.5 |
| Personal outlays |
|
17,206.9 |
16,808.4 |
16,823.2 |
16,456.2 |
16,456.2 |
16,444.4 |
|
Personal consumption expenditures |
|
5,808.3 |
5,650.8 |
5,656.2 |
5,500.1 |
5,500.1 |
5,505.9 |
| Goods |
|
5,808.3 |
5,650.8 |
5,656.2 |
5,500.1 |
5,500.1 |
5,505.9 |
| Durable
goods |
|
2,113.8 |
2,059.7 |
2,061.3 |
1,995.2 |
1,995.2 |
1,995.9 |
| Nondurable
goods |
|
3,694.5 |
3,591.1 |
3,595.0 |
3,505.0 |
3,505.0 |
3,510.0 |
| Services |
|
10,896.8 |
10,663.4 |
10,679.2 |
10,464.8 |
10,464.8 |
10,446.5 |
|
Personal interest payments |
|
278.6 |
271.6 |
265.2 |
271.7 |
271.7 |
272.4 |
|
Personal current transfer payments |
|
223.2 |
222.6 |
222.6 |
219.6 |
219.6 |
219.7 |
| To government |
|
118.2 |
117.5 |
117.5 |
116.8 |
116.8 |
116.8 |
| To the rest
of the world |
|
105.0 |
105.2 |
105.1 |
102.8 |
102.8 |
102.9 |
| Personal saving |
|
1.2 |
1.4 |
1.4 |
1.7 |
1.7 |
1.7 |
| Personal saving as
a percentage of disposable personal income % |
|
6.60 % |
7.70 % |
7.60 % |
9.50 % |
9.50 % |
9.60 % |
| Disposable personal
income: |
|
|
|
|
|
|
|
| Total, billions of chained
($) dollars Y 2000 |
|
15,339.2 |
15,418.0 |
15,417.5 |
15,632.7 |
15,632.7 |
15,643.2 |
| Per capita: |
|
|
|
|
|
|
|
| Current dollars ($) |
|
55,355 |
54,731 |
54,728 |
54,823 |
54,823 |
54,851 |
| Chained ($) dollars Y 2000 |
|
55,355 |
54,731 |
54,728 |
54,823 |
54,823 |
54,851 |
| Population (midperiod,
millions) |
|
332.75 |
332.58 |
332.58 |
331.51 |
331.51 |
331.51 |
Quarterly Growth in Personal Income & Its Disposition
(quarter on quarter seasonally adj. at annual rates, in %) |
I Q. 2022
adv. |
IV Q. 2021
adv. |
IV Q. 2021
adv. |
III Q. 2021
adv. |
III Q. 2021
adv. |
II Q. 2021
adv. |
| Personal income |
5.2 % |
2.4 % |
2.4 % |
2.5 % |
2.5 % |
-21.6 % |
| Compensation of employees,
received |
8.3 % |
9.9 % |
9.9 % |
10.4 % |
10.4 % |
7.5 % |
| Wage & salary disbursements |
8.9 % |
10.8 % |
10.8 % |
11.4 % |
11.4 % |
8.3 % |
| Supplements to wages &
salaries |
5.9 % |
5.5 % |
5.5 % |
5.7 % |
5.7 % |
3.6 % |
| Proprietors' Income |
4.9 % |
-2.6 % |
-2.6 % |
4.1 % |
4.1 % |
35.2 % |
| Rental Income
of Persons |
7 % |
10.7 % |
10.7 % |
7.3 % |
7.3 % |
-0.4 % |
| Personal income receipts
on assets |
3.5 % |
5.8 % |
5.8 % |
1.8 % |
1.8 % |
4.7 % |
| Personal interest income |
7 % |
4.7 % |
4.7 % |
-0.7 % |
-0.7 % |
2.3 % |
| Personal dividend income |
-0.7 % |
7.1 % |
7.1 % |
5.1 % |
5.1 % |
7.8 % |
| Personal current
transfer receipts |
-1.8 % |
-17.5 % |
-17.5 % |
-16.6 % |
-16.6 % |
-72.6 % |
| Less:
Contributions for social insurance |
10 % |
9.2 % |
9.2 % |
9.3 % |
9.3 % |
6.6 % |
| Less: Personal
current taxes |
7.7 % |
16.6 % |
16.6 % |
15.2 % |
15.2 % |
18.1 % |
| Equals: Disposable personal
income |
4.8 % |
0.4 % |
0.4 % |
0.8 % |
0.8 % |
-25.7 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Personal consumption
expenditures |
11.6 % |
11.8 % |
11.8 % |
-2.1 % |
-2.1 % |
23.6 % |
| Goods |
11.6 % |
11.8 % |
11.8 % |
-2.1 % |
-2.1 % |
23.6 % |
| Durable goods |
10.9 % |
13.9 % |
13.9 % |
-17.3 % |
-17.3 % |
30.4 % |
| Nondurable goods |
12 % |
10.7 % |
10.7 % |
8.1 % |
8.1 % |
19.6 % |
| Services |
-0.1 % |
1.4 % |
1.4 % |
2.6 % |
2.6 % |
2.8 % |
| Based on chained (2000) dollar measures |
|
|
|
|
|
|
| Real disposable personal
income |
-2 % |
-5.6 % |
-5.6 % |
-4.3 % |
-4.3 % |
-30.2 % |
Personal
Income & Its Disposition
(Annually,
in Billions $) |
|
2021
|
2020
|
2019
|
2018
|
2017
|
2016
|
| Personal income |
|
21,077.2 |
19,627.6 |
18,601.4 |
17,819.2 |
16,830.9 |
16,011.6 |
|
Compensation of employees, received |
|
12,580.9 |
11,572.2 |
11,420.4 |
10,928.5 |
10,407.2 |
10,101.3 |
| Wage
& salary disbursements |
|
10,327.1 |
9,444.1 |
9,297.4 |
8,888.5 |
8,453.8 |
8,189.2 |
| Private
industries |
|
8,791.6 |
7,949.6 |
7,845.7 |
7,485.9 |
7,108.1 |
6,878.1 |
| Goods-producing
industries |
|
1,643.4 |
1,514.0 |
1,532.8 |
1,471.6 |
1,390.3 |
1,351.0 |
|
Manufacturing |
|
973.0 |
904.4 |
908.4 |
883.2 |
846.4 |
829.4 |
|
Services-producing industries |
|
7,148.3 |
6,435.6 |
6,312.8 |
6,014.3 |
5,717.8 |
5,527.1 |
|
Trade, transportation, & utilities |
|
1,601.2 |
1,443.2 |
1,413.7 |
1,361.0 |
1,313.5 |
1,278.4 |
|
Other services-producing industries |
|
5,547.1 |
4,992.4 |
4,899.2 |
4,653.3 |
4,404.3 |
4,248.8 |
| Government |
|
1,535.5 |
1,494.5 |
1,451.7 |
1,402.6 |
1,345.7 |
1,311.1 |
|
Supplements to wages & salaries |
|
2,253.7 |
2,128.0 |
2,123.0 |
2,040.0 |
1,953.4 |
1,912.2 |
| Employer
contr. for employee pension & insur. |
|
1,526.4 |
1,464.4 |
1,473.2 |
1,417.2 |
1,348.1 |
1,325.4 |
| Employer
contr. for govt. social insurance |
|
727.3 |
663.7 |
649.9 |
622.8 |
605.3 |
586.7 |
|
Proprietors Income with invent. valu. |
|
1,821.9 |
1,650.0 |
1,657.8 |
1,588.8 |
1,500.9 |
1,417.5 |
| Farm |
|
97.8 |
70.2 |
31.9 |
27.2 |
38.9 |
27.8 |
| Nonfarm |
|
1,724.1 |
1,579.9 |
1,626.0 |
1,561.6 |
1,462.0 |
1,389.7 |
|
Rental Inc. with capital consumption adj. |
|
726.4 |
711.6 |
778.2 |
756.8 |
730.2 |
704.7 |
|
Personal income receipts on assets |
|
2,941.3 |
2,912.1 |
2,992.7 |
2,930.1 |
2,631.6 |
2,262.9 |
| Personal interest
income |
|
1,640.7 |
1,614.4 |
1,720.4 |
1,702.7 |
1,523.0 |
1,314.5 |
| Personal dividend
income |
|
1,300.7 |
1,297.8 |
1,272.3 |
1,227.5 |
1,108.6 |
948.4 |
|
Personal current transfer receipts |
|
4,597.8 |
4,241.1 |
3,171.7 |
2,971.5 |
2,859.7 |
2,775.4 |
|
Government social benefits to persons |
|
4,530.9 |
4,181.3 |
3,117.1 |
2,918.3 |
2,804.0 |
2,722.1 |
| Old-age,
disability, & health insurance benefits |
|
746.1 |
657.3 |
1,034.7 |
972.4 |
926.1 |
896.5 |
| Government
unemployment insurance benefits |
|
320.2 |
291.0 |
26.1 |
27.1 |
29.1 |
30.1 |
| Other |
|
1,344.6 |
944.7 |
1,009.4 |
960.6 |
955.2 |
95.7 |
|
Other current transfers, from business |
|
-67.0 |
-59.9 |
54.6 |
53.2 |
55.7 |
53.3 |
|
Contributions for govt. social insurance |
|
-1,591.1 |
-1,459.5 |
-1,419.5 |
-1,356.5 |
-1,298.6 |
-1,250.3 |
| Personal current taxes |
|
2,582.6 |
2,195.6 |
-2,181.5 |
-2,077.6 |
-2,034.6 |
-1,965.6 |
| Disposable personal
income |
|
-18,494.5 |
-17,432.0 |
16,419.9 |
15,741.5 |
14,796.3 |
14,045.9 |
| Personal outlays |
|
16,226.3 |
14,544.5 |
-15,121.1 |
-14,531.1 |
-13,809.5 |
-13,227.1 |
|
Personal consumption expenditures |
|
5,481.4 |
4,653.8 |
14,561.2 |
13,998.7 |
13,321.4 |
12,757.9 |
| Goods |
|
5,481.4 |
4,653.8 |
4,505.3 |
4,364.8 |
4,156.1 |
4,098.4 |
| Durable
goods |
|
2,026.2 |
1,616.4 |
1,526.6 |
1,475.6 |
1,406.5 |
1,402.9 |
| Nondurable
goods |
|
3,455.2 |
3,037.4 |
2,978.6 |
2,889.2 |
2,749.6 |
2,695.5 |
| Services |
|
10,260.1 |
9,393.7 |
10,055.9 |
9,633.9 |
9,165.3 |
8,659.6 |
|
Personal interest payments |
|
266.5 |
285.4 |
360.0 |
336.7 |
293.9 |
274.9 |
|
Personal current transfer payments |
|
218.3 |
211.5 |
199.8 |
195.8 |
194.2 |
194.3 |
| To government |
|
116.4 |
114.6 |
108.8 |
106.9 |
107.3 |
108.8 |
| To the rest
of the world |
|
101.9 |
96.9 |
91.0 |
88.9 |
86.9 |
85.5 |
| Personal saving |
|
2.3 |
2.9 |
1,298.8 |
1,210.4 |
986.8 |
818.8 |
| Personal saving as
a percentage of disposable personal income % |
|
12.30 % |
16.60 % |
7.90 % |
7.70 % |
6.70 % |
5.80 % |
| Disposable personal
income: |
|
|
|
|
|
|
|
| Total, billions of chained
($) dollars Y 2000 |
|
16,007.5 |
15,672.8 |
14,071.2 |
13,729.6 |
13,171.4 |
12,685.5 |
| Per capita: |
|
|
|
|
|
|
|
| Current dollars ($) |
|
55,671 |
52,800 |
49,980 |
48,075 |
45,390 |
43,433 |
| Chained ($) dollars Y 2000 |
|
48,185 |
47,471 |
45,580 |
44,455 |
42,791 |
39,226 |
| Population (midperiod,
millions) |
|
332.21 |
330.15 |
328.53 |
327.44 |
325.98 |
323.39 |
Annual Growth in Personal Income & Its Disposition
(year on year, in %) |
2021
rest. |
2020
rest. |
2019
rest. |
2018
rest. |
2017
rest. |
2016
rest. |
| Personal income |
7.4 % |
6.5 % |
4.4 % |
5.6 % |
4.4 % |
2.4 % |
| Compensation of employees,
received |
8.7 % |
1.1 % |
4.5 % |
5 % |
4.5 % |
2.8 % |
| Wage & salary disbursements |
9.3 % |
1.3 % |
4.6 % |
5 % |
4.6 % |
2.9 % |
| Supplements to wages &
salaries |
5.9 % |
0.2 % |
4.1 % |
4.6 % |
4.1 % |
2.4 % |
| Proprietors' Income |
10.4 % |
3.2 % |
4.3 % |
4.6 % |
5.8 % |
1.8 % |
| Rental Income
of Persons |
2.2 % |
2.8 % |
2.8 % |
5.3 % |
5.1 % |
6.8 % |
| Personal income receipts
on assets |
1 % |
-1.9 % |
2.1 % |
9.3 % |
4.6 % |
-0.4 % |
| Personal interest income |
1.6 % |
-2.3 % |
1 % |
9.7 % |
5.7 % |
3.5 % |
| Personal dividend income |
0.2 % |
-1.4 % |
3.7 % |
8.6 % |
3.1 % |
-5.6 % |
| Personal current
transfer receipts |
8.4 % |
35.1 % |
6.7 % |
4.3 % |
2.9 % |
3.1 % |
| Less:
Contributions for social insurance |
9 % |
2.7 % |
4.6 % |
4.4 % |
4.7 % |
3.1 % |
| Less: Personal
current taxes |
17.6 % |
-0.4 % |
5 % |
1.6 % |
4.1 % |
1.1 % |
| Equals: Disposable personal
income |
6.1 % |
7.5 % |
4.3 % |
6.1 % |
4.4 % |
2.6 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Personal consumption
expenditures |
17.8 % |
3.9 % |
4 % |
5.2 % |
4.3 % |
4 % |
| Goods |
17.8 % |
3.9 % |
3.2 % |
4.8 % |
4 % |
2.2 % |
| Durable goods |
25.4 % |
6.8 % |
3.5 % |
4.5 % |
4.4 % |
3.2 % |
| Nondurable goods |
13.8 % |
2.4 % |
3.1 % |
5 % |
3.8 % |
1.7 % |
| Services |
3.1 % |
-0.5 % |
4.4 % |
5.3 % |
4.5 % |
4.8 % |
| Based on chained (2000) dollar measures |
|
|
|
|
|
|
| Real disposable personal
income |
12.1 % |
-2.6 % |
2.9 % |
4 % |
2.6 % |
1.4 % |
Source: Department of Commerce, Bea.gov
|
|
