Consumer spending loses momentum in January 2024
Personal Income and Its Disposition Report U.S. Economy
Modified 2024-03-11T19:54:50+00:00 Goran Soko / CSIMarket.com Contributer
Consumer spending rose by the smallest amount in three months during January 2024, government data showed, in a further sign of erosion in spending momentum. In January 2024 Personal income jumped by 1 % on the seasonally adjusted basis, reported by the Commerce Department at the annualized rate of $23.62 trillion. For economists, the big question is: Will consumers will increase spending in coming months? The consumer sector has to be an important driver for GDP growth.
Meanwhile, disposable income advanced by 0.3 %, less than overall income, due to 6% increase in taxes, averaging income $61,443 at the annualized rate for every American. |
Wages have increased on the same pace like in previous month, with biggest gain in Services-producing industries by 0.71 %, wages in Government Sector grew as well, along side hefty wage increase, employers have paid more for pensions and insurance benefits in January 2024.
Higher government payments for social programs such as Medicaid and unemployment compensation, lifted January 2024's personal income.
Consumer spending increased by 0.2 % At least through January 2024, 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 |
0.62% |
2.96% |
0.22% |
2.93% |
0.71% |
2.97% |
0.42% |
9.09% |
M/M |
Y/Y |
M/M |
Y/Y |
M/M |
Y/Y |
M/M |
Y/Y |
|
|
|
Compensation |
|
|
Compensation |
|
Compensation of employees
Compensation of employees
grew by 0.60 % from Dec. 2023 and
advanced by 3.56 % from Jan. 2023, while wage & salary disbursements
rose by 0.59 % sequentially and
grew by 3.83 % from same month year ago, now representing 82.93
% of total compensation of employees. |
|
|
Supplements to Wages
Supplements to wages & salaries now representing 17.07
% of total compensation of employees with an
increase of 0.65 % from Dec. 2023 and an
increase by 2.27 % from Jan. 2023.
|
Compensation |
Compensation of employees
Compensation of employees
grew by 0.60 % from Dec. 2023 and
advanced by 3.56 % from Jan. 2023, while wage & salary disbursements
rose by 0.59 % sequentially and
grew by 3.83 % from same month year ago, now representing 82.93
% of total compensation of employees. |
Compensation |
Supplements to Wages
Supplements to wages & salaries now representing 17.07
% of total compensation of employees with an
increase of 0.65 % from Dec. 2023 and an
increase by 2.27 % from Jan. 2023. |
|
|
Wage
& salary disbursements |
Wages
& Salaries from private industries
rose by
0.62 % sequentially and
grew by
2.96 % from same month year ago, now representing 85.12
% of total wage & salary disbursements, while
Wages & Salaries from government
grew by
0.42 % from Dec. 2023 and
increased by
9.09 % from Jan. 2023, now representing
14.88
% of total wage & salary disbursements. |
|
Personal Income Receipts On Assets |
|
|
Capital Consumption |
|
|
Interest & Other
Personal interest income
fell by
-0.11 % sequentially while Personal dividend income
grew by
4.07 % from Dec. 2023. Compare to same quarter
a year ago, personal interest income
went up by
1.38 % and personal dividend income
grew by
18.18 %.
Personal interest payments excluding mortgage interests
increased by
1.63 % sequentially and
advanced by
43.21 % from same month year ago. |
|
|
Proprietors Income & Capital Consumption
Proprietors Income
fell by
-0.36 % sequentially and
fell by
-0.81 % from same month year ago, now representing 7.97
% of total personal income. Rental Income with capital consumption adjustment grew by
1.79 % from Dec. 2023 and
increased by
21.47 % from same month year ago.
|
Personal Income Receipts On Assets |
Interest & Other
Personal interest income
fell by
-0.11 % sequentially while Personal dividend income
grew by
4.07 % from Dec. 2023. Compare to same quarter
a year ago, personal interest income
went up by
1.38 % and personal dividend income
grew by
18.18 %.
Personal interest payments excluding mortgage interests
increased by
1.63 % sequentially and
advanced by
43.21 % from same month year ago. |
Capital Consumption |
Proprietors Income & Capital Consumption
Proprietors Income
fell by
-0.36 % sequentially and
fell by
-0.81 % from same month year ago, now representing 7.97
% of total personal income. Rental Income with capital consumption adjustment grew by
1.79 % from Dec. 2023 and
increased by
21.47 % from same month year ago. |
Personal
Income & Its Disposition (Monthly at Annual rates,
in Billions $) |
|
Jan. 2024 adv. |
Dec. 2023 adv. |
Nov. 2023 adv. |
Oct. 2023 adv. |
Sep. 2023 adv. |
Aug. 2023 adv. |
Personal income |
|
23,615.4 |
23,358.8 |
23,298.8 |
23,242.9 |
23,166.1 |
23,088.3 |
Compensation of employees, received |
|
14,653.4 |
14,565.6 |
14,510.5 |
14,442.9 |
14,419.1 |
14,366.2 |
Wage
& salary disbursements |
|
12,152.4 |
12,080.8 |
12,034.3 |
11,975.9 |
11,960.3 |
11,916.2 |
Private
industries |
|
10,344.6 |
10,280.5 |
10,245.7 |
10,196.2 |
10,202.5 |
10,171.0 |
Goods-producing
industries |
|
1,892.4 |
1,888.3 |
1,894.3 |
1,876.6 |
1,881.1 |
1,874.4 |
Manufacturing |
|
1,109.6 |
1,104.4 |
1,111.4 |
1,098.1 |
1,106.0 |
1,103.0 |
Services-producing industries |
|
8,452.2 |
8,392.2 |
8,351.4 |
8,319.6 |
8,321.4 |
8,296.7 |
Trade, transportation, & utilities |
|
1,844.7 |
1,832.1 |
1,823.9 |
1,819.8 |
1,841.6 |
1,833.0 |
Other services-producing industries |
|
6,607.5 |
6,560.1 |
6,527.5 |
6,499.8 |
6,479.9 |
6,463.7 |
Government |
|
1,807.8 |
1,800.3 |
1,788.6 |
1,779.7 |
1,757.8 |
1,745.2 |
Supplements to wages & salaries |
|
2,501.0 |
2,484.8 |
2,476.2 |
2,467.0 |
2,458.8 |
2,450.0 |
Employer
contr. for employee pension & insur. |
|
1,658.6 |
1,651.2 |
1,645.8 |
1,640.7 |
1,633.2 |
1,627.2 |
Employer
contr. for govt. social insurance |
|
842.4 |
833.6 |
830.4 |
826.3 |
825.6 |
822.7 |
Proprietors Income with invent. valu. |
|
1,882.1 |
1,888.9 |
1,889.8 |
1,891.3 |
1,854.7 |
1,846.9 |
Farm |
|
37.1 |
40.8 |
42.9 |
49.3 |
52.3 |
53.4 |
Nonfarm |
|
1,845.1 |
1,848.1 |
1,846.9 |
1,842.0 |
1,802.4 |
1,793.5 |
Rental Inc. with capital consumption adj. |
|
1,006.9 |
989.2 |
986.9 |
986.1 |
981.7 |
974.6 |
Personal income receipts on assets |
|
3,759.0 |
3,685.4 |
3,674.6 |
3,665.2 |
3,643.5 |
3,624.2 |
Personal interest
income |
|
1,828.1 |
1,830.1 |
1,815.4 |
1,818.3 |
1,808.4 |
1,790.8 |
Personal dividend
income |
|
1,930.9 |
1,855.4 |
1,859.2 |
1,846.9 |
1,835.1 |
1,833.4 |
Personal current transfer receipts |
|
4,178.7 |
4,069.4 |
4,070.1 |
4,082.5 |
4,090.1 |
4,093.7 |
Government social benefits to persons |
|
4,057.6 |
3,962.5 |
3,960.2 |
3,973.1 |
3,981.3 |
3,989.0 |
Old-age,
disability, & health insurance benefits |
|
1,421.5 |
1,373.1 |
1,370.6 |
1,378.5 |
1,364.1 |
1,361.8 |
Government
unemployment insurance benefits |
|
958.5 |
953.1 |
951.3 |
949.6 |
947.9 |
946.3 |
Other |
|
866.7 |
861.7 |
862.8 |
861.3 |
875.0 |
880.5 |
Other current transfers, from business |
|
-121.1 |
-106.9 |
-109.9 |
-109.3 |
-108.9 |
-104.7 |
Contributions for govt. social insurance |
|
-1,864.7 |
-1,839.7 |
-1,833.1 |
-1,824.9 |
-1,823.1 |
-1,817.2 |
Personal current taxes |
|
2,958.7 |
2,777.2 |
2,769.0 |
2,791.2 |
2,838.9 |
2,817.2 |
Disposable personal
income |
|
-20,656.7 |
-20,581.6 |
-20,529.8 |
-20,451.7 |
-20,327.3 |
-20,271.1 |
Personal outlays |
|
19,877.4 |
19,815.0 |
19,680.2 |
19,683.1 |
19,639.5 |
19,464.5 |
Personal consumption expenditures |
|
6,208.3 |
6,297.0 |
6,238.7 |
6,258.3 |
6,272.9 |
6,230.4 |
Goods |
|
6.2 |
6.3 |
6.2 |
6.3 |
6.3 |
6.2 |
Durable
goods |
|
2,176.0 |
2,231.5 |
2,206.8 |
2,204.0 |
2,221.5 |
2,199.3 |
Nondurable
goods |
|
4,032.3 |
4,065.5 |
4,031.9 |
4,054.4 |
4,051.3 |
4,031.1 |
Services |
|
12,845.9 |
12,704.7 |
12,629.2 |
12,606.4 |
12,580.5 |
12,484.3 |
Personal interest payments |
|
573.4 |
564.2 |
563.8 |
571.4 |
539.6 |
503.6 |
Personal current transfer payments |
|
249.8 |
249.0 |
248.6 |
247.0 |
246.5 |
246.2 |
To government |
|
132.9 |
132.5 |
132.1 |
131.8 |
131.5 |
131.2 |
To the rest
of the world |
|
116.9 |
116.5 |
116.5 |
115.2 |
115.0 |
115.0 |
Personal saving |
|
0.8 |
0.8 |
0.8 |
0.8 |
0.7 |
0.8 |
Personal saving as
a percentage of disposable personal income % |
|
3.80 % |
3.70 % |
4.10 % |
3.80 % |
3.40 % |
4.00 % |
Disposable personal
income: |
|
|
|
|
|
|
|
Total, billions of chained
($) dollars Y 2000 |
|
15,948.8 |
15,886.5 |
15,863.0 |
15,785.0 |
15,720.3 |
15,708.9 |
Per capita: |
|
|
|
|
|
|
|
Current dollars ($) |
|
61,443 |
61,242 |
61,114 |
60,898 |
60,556 |
60,421 |
Chained ($) dollars Y 2000 |
|
50,417 |
50,438 |
50,417 |
50,169 |
49,904 |
49,969 |
Population (midperiod,
millions) |
|
336.19 |
336.07 |
335.93 |
335.84 |
335.68 |
335.50 |
Percentage Change in Personal Income & Its Disposition
(month on month seasonally adj. at annual rates, in %) |
Jan. 2024
rest. |
Dec. 2023
rest. |
Nov. 2023
rest. |
Oct. 2023
rest. |
Sep. 2023
rest. |
Aug. 2023
rest. |
Personal income |
1 % |
0.3 % |
0.4 % |
0.2 % |
0.3 % |
0.4 % |
Compensation of employees,
received |
0.4 % |
0.4 % |
0.5 % |
0.2 % |
0.4 % |
0.5 % |
Wage & salary disbursements |
0.4 % |
0.4 % |
0.5 % |
0.1 % |
0.4 % |
0.5 % |
Supplements to wages &
salaries |
0.6 % |
0.3 % |
0.4 % |
0.3 % |
0.4 % |
0.4 % |
Proprietors' Income |
-0.2 % |
- % |
0.4 % |
0.4 % |
0.4 % |
0.6 % |
Rental Income
of Persons |
1.6 % |
0.2 % |
0.2 % |
0.5 % |
0.7 % |
0.8 % |
Personal income receipts
on assets |
2.1 % |
0.3 % |
0.7 % |
0.8 % |
0.5 % |
0.5 % |
Personal interest income |
0.1 % |
0.8 % |
0.8 % |
0.7 % |
1 % |
1 % |
Personal dividend income |
4.1 % |
-0.2 % |
0.7 % |
0.8 % |
0.1 % |
0.1 % |
Personal current
transfer receipts |
2.6 % |
- % |
-0.4 % |
-0.1 % |
-0.1 % |
-0.1 % |
Less:
Contributions for social insurance |
1.1 % |
0.4 % |
0.5 % |
0.1 % |
0.3 % |
0.4 % |
Less: Personal
current taxes |
6 % |
0.3 % |
0.2 % |
-0.2 % |
0.8 % |
1.5 % |
Equals: Disposable personal
income |
0.3 % |
0.3 % |
0.4 % |
0.3 % |
0.3 % |
0.3 % |
|
|
|
|
|
|
|
Addenda: |
|
|
|
|
|
|
Personal consumption
expenditures |
0.2 % |
0.7 % |
0.4 % |
0.2 % |
0.7 % |
0.4 % |
Goods |
-1.2 % |
0.9 % |
-0.1 % |
-0.2 % |
0.7 % |
0.7 % |
Durable goods |
-1.9 % |
1.1 % |
0.7 % |
-0.5 % |
1 % |
-0.3 % |
Nondurable goods |
-0.8 % |
0.8 % |
-0.6 % |
- % |
0.5 % |
1.3 % |
Services |
1 % |
0.6 % |
0.6 % |
0.4 % |
0.8 % |
0.3 % |
Based on chained (2000) dollar measures |
|
|
|
|
|
|
Real disposable personal
income |
- % |
0.1 % |
0.5 % |
0.3 % |
-0.1 % |
-0.1 % |
Personal
Income & Its Disposition (Quarterly,
in Billions $) |
|
II Q. 2023 adv. |
II Q. 2023 adv. |
I Q. 2023 adv. |
II Q. 2023 adv. |
II Q. 2023 adv. |
I Q. 2023 adv. |
Personal income |
|
22,755.3 |
22,755.3 |
22,647.2 |
22,755.3 |
22,755.3 |
22,647.2 |
Compensation of employees, received |
|
14,167.3 |
14,167.3 |
14,180.8 |
14,167.3 |
14,167.3 |
14,180.8 |
Wage
& salary disbursements |
|
11,701.3 |
11,701.3 |
11,728.7 |
11,701.3 |
11,701.3 |
11,728.7 |
Private
industries |
|
10,006.1 |
10,006.1 |
10,061.7 |
10,006.1 |
10,006.1 |
10,061.7 |
Goods-producing
industries |
|
1,840.6 |
1,840.6 |
1,840.4 |
1,840.6 |
1,840.6 |
1,840.4 |
Manufacturing |
|
1,075.1 |
1,075.1 |
1,080.8 |
1,075.1 |
1,075.1 |
1,080.8 |
Services-producing industries |
|
8,165.5 |
8,165.5 |
8,221.4 |
8,165.5 |
8,165.5 |
8,221.4 |
Trade, transportation, & utilities |
|
1,789.0 |
1,789.0 |
1,812.0 |
1,789.0 |
1,789.0 |
1,812.0 |
Other services-producing industries |
|
6,376.5 |
6,376.5 |
6,409.3 |
6,376.5 |
6,376.5 |
6,409.3 |
Government |
|
1,695.2 |
1,695.2 |
1,667.0 |
1,695.2 |
1,695.2 |
1,667.0 |
Supplements to wages & salaries |
|
2,466.0 |
2,466.0 |
2,452.1 |
2,466.0 |
2,466.0 |
2,452.1 |
Employer
contr. for employee pension & insur. |
|
1,668.7 |
1,668.7 |
1,652.0 |
1,668.7 |
1,668.7 |
1,652.0 |
Employer
contr. for govt. social insurance |
|
797.3 |
797.3 |
800.1 |
797.3 |
797.3 |
800.1 |
Proprietors Income with invent. valu. |
|
1,905.6 |
1,905.6 |
1,887.4 |
1,905.6 |
1,905.6 |
1,887.4 |
Farm |
|
86.0 |
86.0 |
95.3 |
86.0 |
86.0 |
95.3 |
Nonfarm |
|
1,819.6 |
1,819.6 |
1,792.2 |
1,819.6 |
1,819.6 |
1,792.2 |
Rental Inc. with capital consumption adj. |
|
864.0 |
864.0 |
841.7 |
864.0 |
864.0 |
841.7 |
Personal income receipts on assets |
|
3,494.5 |
3,494.5 |
3,454.1 |
3,494.5 |
3,494.5 |
3,454.1 |
Personal interest
income |
|
1,832.5 |
1,832.5 |
1,808.2 |
1,832.5 |
1,832.5 |
1,808.2 |
Personal dividend
income |
|
1,662.1 |
1,662.1 |
1,645.9 |
1,662.1 |
1,662.1 |
1,645.9 |
Personal current transfer receipts |
|
4,073.8 |
4,073.8 |
4,037.7 |
4,073.8 |
4,073.8 |
4,037.7 |
Government social benefits to persons |
|
4,001.6 |
4,001.6 |
3,966.4 |
4,001.6 |
4,001.6 |
3,966.4 |
Old-age,
disability, & health insurance benefits |
|
873.8 |
873.8 |
813.1 |
873.8 |
873.8 |
813.1 |
Government
unemployment insurance benefits |
|
334.0 |
334.0 |
332.6 |
334.0 |
334.0 |
332.6 |
Other |
|
616.8 |
616.8 |
659.0 |
616.8 |
616.8 |
659.0 |
Other current transfers, from business |
|
-72.2 |
-72.2 |
-71.3 |
-72.2 |
-72.2 |
-71.3 |
Contributions for govt. social insurance |
|
-1,749.9 |
-1,749.9 |
-1,754.4 |
-1,749.9 |
-1,749.9 |
-1,754.4 |
Personal current taxes |
|
2,894.0 |
2,894.0 |
2,940.0 |
2,894.0 |
2,894.0 |
2,940.0 |
Disposable personal
income |
|
-19,861.3 |
-19,861.3 |
-19,707.2 |
-19,861.3 |
-19,861.3 |
-19,707.2 |
Personal outlays |
|
18,991.7 |
18,991.7 |
18,761.0 |
18,991.7 |
18,991.7 |
18,761.0 |
Personal consumption expenditures |
|
6,095.4 |
6,095.4 |
6,085.8 |
6,095.4 |
6,095.4 |
6,085.8 |
Goods |
|
6,095.4 |
6,095.4 |
6,085.8 |
6,095.4 |
6,095.4 |
6,085.8 |
Durable
goods |
|
2,264.0 |
2,264.0 |
2,262.0 |
2,264.0 |
2,264.0 |
2,262.0 |
Nondurable
goods |
|
3,831.3 |
3,831.3 |
3,823.8 |
3,831.3 |
3,831.3 |
3,823.8 |
Services |
|
12,209.9 |
12,209.9 |
12,009.5 |
12,209.9 |
12,209.9 |
12,009.5 |
Personal interest payments |
|
462.6 |
462.6 |
442.1 |
462.6 |
462.6 |
442.1 |
Personal current transfer payments |
|
223.8 |
223.8 |
223.6 |
223.8 |
223.8 |
223.6 |
To government |
|
118.5 |
118.5 |
117.8 |
118.5 |
118.5 |
117.8 |
To the rest
of the world |
|
105.3 |
105.3 |
105.8 |
105.3 |
105.3 |
105.8 |
Personal saving |
|
0.9 |
0.9 |
0.9 |
0.9 |
0.9 |
0.9 |
Personal saving as
a percentage of disposable personal income % |
|
4.40 % |
4.40 % |
4.80 % |
4.40 % |
4.40 % |
4.80 % |
Disposable personal
income: |
|
|
|
|
|
|
|
Total, billions of chained
($) dollars Y 2000 |
|
15,644.4 |
15,644.4 |
15,622.2 |
15,644.4 |
15,644.4 |
15,622.2 |
Per capita: |
|
|
|
|
|
|
|
Current dollars ($) |
|
59,284 |
59,284 |
58,891 |
59,284 |
59,284 |
58,891 |
Chained ($) dollars Y 2000 |
|
59,284 |
59,284 |
58,891 |
59,284 |
59,284 |
58,891 |
Population (midperiod,
millions) |
|
335.02 |
335.02 |
334.64 |
335.02 |
335.02 |
334.64 |
Quarterly Growth in Personal Income & Its Disposition
(quarter on quarter seasonally adj. at annual rates, in %) |
II Q. 2023
adv. |
II Q. 2023
adv. |
I Q. 2023
adv. |
II Q. 2023
adv. |
II Q. 2023
adv. |
I Q. 2023
adv. |
Personal income |
4.3 % |
4.3 % |
5.1 % |
4.3 % |
4.3 % |
5.1 % |
Compensation of employees,
received |
5.3 % |
5.3 % |
6.1 % |
5.3 % |
5.3 % |
6.1 % |
Wage & salary disbursements |
5.5 % |
5.5 % |
6.4 % |
5.5 % |
5.5 % |
6.4 % |
Supplements to wages &
salaries |
4.3 % |
4.3 % |
4.8 % |
4.3 % |
4.3 % |
4.8 % |
Proprietors' Income |
-0.8 % |
-0.8 % |
1 % |
-0.8 % |
-0.8 % |
1 % |
Rental Income
of Persons |
9.3 % |
9.3 % |
15.6 % |
9.3 % |
9.3 % |
15.6 % |
Personal income receipts
on assets |
4.9 % |
4.9 % |
3.6 % |
4.9 % |
4.9 % |
3.6 % |
Personal interest income |
5.5 % |
5.5 % |
4.4 % |
5.5 % |
5.5 % |
4.4 % |
Personal dividend income |
4.3 % |
4.3 % |
2.7 % |
4.3 % |
4.3 % |
2.7 % |
Personal current
transfer receipts |
1.6 % |
1.6 % |
4 % |
1.6 % |
1.6 % |
4 % |
Less:
Contributions for social insurance |
4.5 % |
4.5 % |
8 % |
4.5 % |
4.5 % |
8 % |
Less: Personal
current taxes |
-1.7 % |
-1.7 % |
-31.6 % |
-1.7 % |
-1.7 % |
-31.6 % |
Equals: Disposable personal
income |
5.2 % |
5.2 % |
12.5 % |
5.2 % |
5.2 % |
12.5 % |
|
|
|
|
|
|
|
Addenda: |
|
|
|
|
|
|
Personal consumption
expenditures |
1.1 % |
1.1 % |
7.3 % |
1.1 % |
1.1 % |
7.3 % |
Goods |
1.1 % |
1.1 % |
7.3 % |
1.1 % |
1.1 % |
7.3 % |
Durable goods |
0.9 % |
0.9 % |
15.8 % |
0.9 % |
0.9 % |
15.8 % |
Nondurable goods |
1.2 % |
1.2 % |
2.6 % |
1.2 % |
1.2 % |
2.6 % |
Services |
2.2 % |
2.2 % |
1.1 % |
2.2 % |
2.2 % |
1.1 % |
Based on chained (2000) dollar measures |
|
|
|
|
|
|
Real disposable personal
income |
2.5 % |
2.5 % |
8 % |
2.5 % |
2.5 % |
8 % |
Personal
Income & Its Disposition (Annually,
in Billions $) |
|
2022 |
2021 |
2020 |
2019 |
2018 |
2017 |
Personal income |
|
21,777.2 |
21,077.2 |
19,627.6 |
18,601.4 |
17,819.2 |
16,830.9 |
Compensation of employees, received |
|
13,564.5 |
12,580.9 |
11,572.2 |
11,420.4 |
10,928.5 |
10,407.2 |
Wage
& salary disbursements |
|
11,189.6 |
10,327.1 |
9,444.1 |
9,297.4 |
8,888.5 |
8,453.8 |
Private
industries |
|
9,575.8 |
8,791.6 |
7,949.6 |
7,845.7 |
7,485.9 |
7,108.1 |
Goods-producing
industries |
|
1,753.2 |
1,643.4 |
1,514.0 |
1,532.8 |
1,471.6 |
1,390.3 |
Manufacturing |
|
1,037.7 |
973.0 |
904.4 |
908.4 |
883.2 |
846.4 |
Services-producing industries |
|
7,822.6 |
7,148.3 |
6,435.6 |
6,312.8 |
6,014.3 |
5,717.8 |
Trade, transportation, & utilities |
|
1,724.3 |
1,601.2 |
1,443.2 |
1,413.7 |
1,361.0 |
1,313.5 |
Other services-producing industries |
|
6,098.3 |
5,547.1 |
4,992.4 |
4,899.2 |
4,653.3 |
4,404.3 |
Government |
|
1,613.8 |
1,535.5 |
1,494.5 |
1,451.7 |
1,402.6 |
1,345.7 |
Supplements to wages & salaries |
|
2,374.9 |
2,253.7 |
2,128.0 |
2,123.0 |
2,040.0 |
1,953.4 |
Employer
contr. for employee pension & insur. |
|
1,612.5 |
1,526.4 |
1,464.4 |
1,473.2 |
1,417.2 |
1,348.1 |
Employer
contr. for govt. social insurance |
|
762.4 |
727.3 |
663.7 |
649.9 |
622.8 |
605.3 |
Proprietors Income with invent. valu. |
|
1,848.3 |
1,821.9 |
1,650.0 |
1,657.8 |
1,588.8 |
1,500.9 |
Farm |
|
91.7 |
97.8 |
70.2 |
31.9 |
27.2 |
38.9 |
Nonfarm |
|
1,756.6 |
1,724.1 |
1,579.9 |
1,626.0 |
1,561.6 |
1,462.0 |
Rental Inc. with capital consumption adj. |
|
781.9 |
726.4 |
711.6 |
778.2 |
756.8 |
730.2 |
Personal income receipts on assets |
|
3,343.9 |
2,941.3 |
2,912.1 |
2,992.7 |
2,930.1 |
2,631.6 |
Personal interest
income |
|
1,726.6 |
1,640.7 |
1,614.4 |
1,720.4 |
1,702.7 |
1,523.0 |
Personal dividend
income |
|
1,617.3 |
1,300.7 |
1,297.8 |
1,272.3 |
1,227.5 |
1,108.6 |
Personal current transfer receipts |
|
3,910.7 |
4,597.8 |
4,241.1 |
3,171.7 |
2,971.5 |
2,859.7 |
Government social benefits to persons |
|
3,839.6 |
4,530.9 |
4,181.3 |
3,117.1 |
2,918.3 |
2,804.0 |
Old-age,
disability, & health insurance benefits |
|
783.7 |
746.1 |
657.3 |
1,034.7 |
972.4 |
926.1 |
Government
unemployment insurance benefits |
|
321.6 |
320.2 |
291.0 |
26.1 |
27.1 |
29.1 |
Other |
|
742.9 |
1,344.6 |
944.7 |
1,009.4 |
960.6 |
955.2 |
Other current transfers, from business |
|
-71.1 |
-67.0 |
-59.9 |
54.6 |
53.2 |
55.7 |
Contributions for govt. social insurance |
|
-1,672.1 |
-1,591.1 |
-1,459.5 |
-1,419.5 |
-1,356.5 |
-1,298.6 |
Personal current taxes |
|
3,196.6 |
2,582.6 |
2,195.6 |
-2,181.5 |
-2,077.6 |
-2,034.6 |
Disposable personal
income |
|
-18,580.6 |
-18,494.5 |
-17,432.0 |
16,419.9 |
15,741.5 |
14,796.3 |
Personal outlays |
|
17,922.5 |
16,226.3 |
14,544.5 |
-15,121.1 |
-14,531.1 |
-13,809.5 |
Personal consumption expenditures |
|
5,941.3 |
5,481.4 |
4,653.8 |
14,561.2 |
13,998.7 |
13,321.4 |
Goods |
|
5,941.3 |
5,481.4 |
4,653.8 |
4,505.3 |
4,364.8 |
4,156.1 |
Durable
goods |
|
2,185.5 |
2,026.2 |
1,616.4 |
1,526.6 |
1,475.6 |
1,406.5 |
Nondurable
goods |
|
3,755.9 |
3,455.2 |
3,037.4 |
2,978.6 |
2,889.2 |
2,749.6 |
Services |
|
11,415.8 |
10,260.1 |
9,393.7 |
10,055.9 |
9,633.9 |
9,165.3 |
Personal interest payments |
|
341.6 |
266.5 |
285.4 |
360.0 |
336.7 |
293.9 |
Personal current transfer payments |
|
223.7 |
218.3 |
211.5 |
199.8 |
195.8 |
194.2 |
To government |
|
115.7 |
116.4 |
114.6 |
108.8 |
106.9 |
107.3 |
To the rest
of the world |
|
108.0 |
101.9 |
96.9 |
91.0 |
88.9 |
86.9 |
Personal saving |
|
0.7 |
2.3 |
2.9 |
1,298.8 |
1,210.4 |
986.8 |
Personal saving as
a percentage of disposable personal income % |
|
3.50 % |
12.30 % |
16.60 % |
7.90 % |
7.70 % |
6.70 % |
Disposable personal
income: |
|
|
|
|
|
|
|
Total, billions of chained
($) dollars Y 2000 |
|
15,126.3 |
16,007.5 |
15,672.8 |
14,071.2 |
13,729.6 |
13,171.4 |
Per capita: |
|
|
|
|
|
|
|
Current dollars ($) |
|
55,698 |
55,671 |
52,800 |
49,980 |
48,075 |
45,390 |
Chained ($) dollars Y 2000 |
|
45,343 |
48,185 |
47,471 |
45,580 |
44,455 |
42,791 |
Population (midperiod,
millions) |
|
333.60 |
332.21 |
330.15 |
328.53 |
327.44 |
325.98 |
Annual Growth in Personal Income & Its Disposition
(year on year, in %) |
2022
rest. |
2021
rest. |
2020
rest. |
2019
rest. |
2018
rest. |
2017
rest. |
Personal income |
2.3 % |
7.4 % |
6.5 % |
4.4 % |
5.6 % |
4.4 % |
Compensation of employees,
received |
8.2 % |
8.7 % |
1.1 % |
4.5 % |
5 % |
4.5 % |
Wage & salary disbursements |
8.7 % |
9.3 % |
1.3 % |
4.6 % |
5 % |
4.6 % |
Supplements to wages &
salaries |
5.6 % |
5.9 % |
0.2 % |
4.1 % |
4.6 % |
4.1 % |
Proprietors' Income |
5.4 % |
10.4 % |
3.2 % |
4.3 % |
4.6 % |
5.8 % |
Rental Income
of Persons |
8 % |
2.2 % |
2.8 % |
2.8 % |
5.3 % |
5.1 % |
Personal income receipts
on assets |
4.4 % |
1 % |
-1.9 % |
2.1 % |
9.3 % |
4.6 % |
Personal interest income |
4.1 % |
1.6 % |
-2.3 % |
1 % |
9.7 % |
5.7 % |
Personal dividend income |
4.8 % |
0.2 % |
-1.4 % |
3.7 % |
8.6 % |
3.1 % |
Personal current
transfer receipts |
-15.3 % |
8.4 % |
35.1 % |
6.7 % |
4.3 % |
2.9 % |
Less:
Contributions for social insurance |
8.5 % |
9 % |
2.7 % |
4.6 % |
4.4 % |
4.7 % |
Less: Personal
current taxes |
20.1 % |
17.6 % |
-0.4 % |
5 % |
1.6 % |
4.1 % |
Equals: Disposable personal
income |
-0.3 % |
6.1 % |
7.5 % |
4.3 % |
6.1 % |
4.4 % |
|
|
|
|
|
|
|
Addenda: |
|
|
|
|
|
|
Personal consumption
expenditures |
8.1 % |
17.8 % |
3.9 % |
4 % |
5.2 % |
4.3 % |
Goods |
8.1 % |
17.8 % |
3.9 % |
3.2 % |
4.8 % |
4 % |
Durable goods |
6.1 % |
25.4 % |
6.8 % |
3.5 % |
4.5 % |
4.4 % |
Nondurable goods |
9.3 % |
13.8 % |
2.4 % |
3.1 % |
5 % |
3.8 % |
Services |
0.8 % |
3.1 % |
-0.5 % |
4.4 % |
5.3 % |
4.5 % |
Based on chained (2000) dollar measures |
|
|
|
|
|
|
Real disposable personal
income |
9.1 % |
12.1 % |
-2.6 % |
2.9 % |
4 % |
2.6 % |
Source: Department of Commerce, Bea.gov
|
|