|
Taxes reduce November's Income growth
Personal Income and Its Disposition Report U.S. Economy
Americans cut back on spending in November and used a hefty increase in wages to pad their savings accounts, government data showed.
Personal income grew in November by 0.5 % on the seasonally adjusted basis at the annualized rate of $18.91 trillion, reported by the Commerce Department.
The renewed caution by consumers is a double-edged sword. While Americans need to put more money aside to boost a low savings rate, lackluster spending also contributes to slower growth. (Consumer spending accounts for as much as 70% of U.S. economic activity).
Meanwhile, disposable income, money left over after taxes, grew by 0.5 %, as well, lifting average American income to $50,579 at the annualized rate. |
Wages have increased by smaller rate than a month ago, led by Manufacturing, the supplements to wages and salaries grew less than total wages, as employer boost contributions for government social insurance.
Rising tax payements in November, have reduced much of the income increase in the last month.
Personal consumption expenditures remained unchanged. The combination of higher income and lower spending allowed consumers to boost their savings rate to 7.9 % from 7.8 % in October.
A slower pace of consumer spending is one reason that economists are cutting estimates for gross domestic product growth.
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|
Private
industries |
Goods-producing
industries |
Services |
Government |
|
0.41% |
5.77% |
0.44% |
6.39% |
0.41% |
5.61% |
0.29% |
5.43% |
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 0.38 % from Oct. 2019 and
advanced by 5.70 % from Nov. 2018, while wage & salary disbursements
rose by 0.39 % sequentially and
grew by 5.72 % from same month year ago, now representing 81.44
% of total compensation of employees. |
|
|
Supplements to Wages
Supplements to wages & salaries now representing 18.56
% of total compensation of employees with an
increase of 0.33 % from Oct. 2019 and an
increase by 5.61 % from Nov. 2018.
|
| Compensation |
Compensation of employees
Compensation of employees
grew by 0.38 % from Oct. 2019 and
advanced by 5.70 % from Nov. 2018, while wage & salary disbursements
rose by 0.39 % sequentially and
grew by 5.72 % from same month year ago, now representing 81.44
% of total compensation of employees. |
| Compensation |
Supplements to Wages
Supplements to wages & salaries now representing 18.56
% of total compensation of employees with an
increase of 0.33 % from Oct. 2019 and an
increase by 5.61 % from Nov. 2018. |
| |
|
Wage
& salary disbursements |
| Wages
& Salaries from private industries
rose by
0.41 % sequentially and
grew by
5.77 % from same month year ago, now representing 84.44
% of total wage & salary disbursements, while
Wages & Salaries from government
grew by
0.29 % from Oct. 2019 and
increased by
5.43 % from Nov. 2018, now representing
15.56
% of total wage & salary disbursements. |
|
|
Personal Income Receipts On Assets |
|
|
Capital Consumption |
|
|
|
Interest & Other
Personal interest income
went up by
1.40 % sequentially while Personal dividend income
fell by
-0.06 % from Oct. 2019. Compare to same quarter
a year ago, personal interest income
went up by
6.18 % and personal dividend income
grew by
10.92 %.
Personal interest payments excluding mortgage interests
increased by
0.97 % sequentially and
advanced by
4.34 % from same month year ago. |
|
|
Proprietors Income & Capital Consumption
Proprietors Income
advanced by
1.87 % sequentially and
grew by
6.09 % from same month year ago, now representing 9.05
% of total personal income.
Rental Income with capital consumption adjustment grew by
0.50 % from Oct. 2019 and
increased by
0.63 % from same month year ago.
|
| Personal Income Receipts On Assets |
Interest & Other
Personal interest income
went up by
1.40 % sequentially while Personal dividend income
fell by
-0.06 % from Oct. 2019. Compare to same quarter
a year ago, personal interest income
went up by
6.18 % and personal dividend income
grew by
10.92 %.
Personal interest payments excluding mortgage interests
increased by
0.97 % sequentially and
advanced by
4.34 % from same month year ago. |
| Capital Consumption |
| Proprietors Income & Capital Consumption
Proprietors Income
advanced by
1.87 % sequentially and
grew by
6.09 % from same month year ago, now representing 9.05
% of total personal income.
Rental Income with capital consumption adjustment grew by
0.50 % from Oct. 2019 and
increased by
0.63 % from same month year ago. |
Personal
Income & Its Disposition
(Monthly at Annual rates,
in Billions $) |
|
Nov. 2019
adv. |
Oct. 2019
adv. |
Sep. 2019
adv. |
Aug. 2019
adv. |
July 2019
adv. |
June 2019
adv. |
| Personal income |
|
18,911.2 |
18,809.5 |
18,835.1 |
18,703.4 |
18,679.5 |
18,675.9 |
|
Compensation of employees, received |
|
11,617.3 |
11,573.1 |
11,575.0 |
11,503.9 |
11,478.2 |
11,480.7 |
| Wage
& salary disbursements |
|
9,461.0 |
9,423.8 |
9,430.6 |
9,373.0 |
9,353.7 |
9,355.8 |
| Private
industries |
|
7,988.9 |
7,956.1 |
7,971.1 |
7,920.8 |
7,905.3 |
7,907.0 |
| Goods-producing
industries |
|
1,561.1 |
1,554.3 |
1,558.9 |
1,554.5 |
1,554.3 |
1,553.9 |
|
Manufacturing |
|
927.9 |
921.2 |
920.7 |
917.0 |
918.5 |
918.7 |
|
Services-producing industries |
|
6,427.8 |
6,401.7 |
6,412.2 |
6,366.2 |
6,351.0 |
6,353.1 |
|
Trade, transportation, & utilities |
|
1,429.3 |
1,427.8 |
1,422.9 |
1,412.9 |
1,412.3 |
1,413.9 |
|
Other services-producing industries |
|
4,998.6 |
4,973.9 |
4,989.3 |
4,953.3 |
4,938.6 |
4,939.2 |
| Government |
|
1,472.0 |
1,467.8 |
1,459.5 |
1,452.2 |
1,448.4 |
1,448.8 |
|
Supplements to wages & salaries |
|
2,156.3 |
2,149.3 |
2,144.3 |
2,130.9 |
2,124.5 |
2,124.9 |
| Employer
contr. for employee pension & insur. |
|
1,496.3 |
1,491.5 |
1,485.7 |
1,475.7 |
1,470.4 |
1,470.6 |
| Employer
contr. for govt. social insurance |
|
660.0 |
657.8 |
658.6 |
655.2 |
654.1 |
654.3 |
|
Proprietors Income with invent. valu. |
|
1,712.0 |
1,680.5 |
1,697.3 |
1,648.6 |
1,640.4 |
1,639.5 |
| Farm |
|
59.4 |
33.2 |
57.2 |
22.1 |
22.7 |
20.5 |
| Nonfarm |
|
1,652.6 |
1,647.3 |
1,640.1 |
1,626.6 |
1,617.6 |
1,619.0 |
|
Rental Inc. with capital consumption adj. |
|
786.9 |
783.0 |
781.0 |
786.9 |
783.4 |
782.2 |
|
Personal income receipts on assets |
|
3,012.2 |
2,989.2 |
3,013.7 |
3,003.4 |
3,027.4 |
3,032.8 |
| Personal interest
income |
|
1,729.6 |
1,705.7 |
1,726.4 |
1,730.0 |
1,762.0 |
1,768.1 |
| Personal dividend
income |
|
1,282.6 |
1,283.4 |
1,287.3 |
1,273.4 |
1,265.3 |
1,264.6 |
|
Personal current transfer receipts |
|
3,224.1 |
3,220.2 |
3,205.6 |
3,190.4 |
3,177.3 |
3,168.1 |
|
Government social benefits to persons |
|
3,169.2 |
3,165.4 |
3,150.9 |
3,135.8 |
3,122.8 |
3,113.7 |
| Old-age,
disability, & health insurance benefits |
|
1,049.6 |
1,050.6 |
1,040.3 |
1,035.0 |
1,032.8 |
1,032.9 |
| Government
unemployment insurance benefits |
|
823.9 |
819.5 |
814.9 |
804.8 |
799.4 |
799.4 |
| Other |
|
644.7 |
645.3 |
645.0 |
647.9 |
640.5 |
631.4 |
|
Other current transfers, from business |
|
25.7 |
25.8 |
25.5 |
25.9 |
26.2 |
26.2 |
|
Contributions for govt. social insurance |
|
-1,441.4 |
-1,436.5 |
-1,437.5 |
-1,429.7 |
-1,427.1 |
-1,427.4 |
| Personal current taxes |
|
-2,208.5 |
-2,194.5 |
-2,194.3 |
-2,205.0 |
-2,225.5 |
-2,221.4 |
| Disposable personal
income |
|
16,702.7 |
16,615.0 |
16,640.7 |
16,498.4 |
16,454.0 |
16,454.5 |
| Personal outlays |
|
-15,388.0 |
-15,319.4 |
-15,256.8 |
-15,229.2 |
-15,132.8 |
-15,118.5 |
|
Personal consumption expenditures |
|
14,824.1 |
14,759.2 |
14,696.2 |
14,661.1 |
14,568.0 |
14,549.6 |
| Goods |
|
4,582.1 |
4,560.5 |
4,561.0 |
4,571.1 |
4,529.2 |
4,521.2 |
| Durable
goods |
|
1,562.5 |
1,547.7 |
1,553.6 |
1,545.7 |
1,535.9 |
1,536.0 |
| Nondurable
goods |
|
3,019.6 |
3,012.8 |
3,007.4 |
3,025.4 |
2,993.3 |
2,985.1 |
| Services |
|
10,241.9 |
10,198.7 |
10,135.1 |
10,090.0 |
10,038.7 |
10,028.5 |
|
Personal interest payments |
|
363.4 |
359.9 |
360.3 |
368.0 |
364.9 |
368.7 |
|
Personal current transfer payments |
|
200.5 |
200.3 |
200.3 |
200.1 |
199.9 |
200.2 |
| To government |
|
109.6 |
109.5 |
109.3 |
108.9 |
108.8 |
108.8 |
| To the rest
of the world |
|
90.9 |
90.9 |
91.0 |
91.1 |
91.1 |
91.4 |
| Personal saving |
|
1,314.7 |
1,295.6 |
1,384.0 |
1,269.2 |
1,321.2 |
1,336.0 |
| Personal saving as
a percentage of disposable personal income % |
|
7.90 % |
7.80 % |
8.30 % |
7.70 % |
8.00 % |
8.10 % |
| Disposable personal
income: |
|
|
|
|
|
|
|
| Total, billions of chained
($) dollars Y 2000 |
|
14,213.3 |
14,147.0 |
14,216.5 |
14,122.9 |
14,142.6 |
14,144.0 |
| Per capita: |
|
|
|
|
|
|
|
| Current dollars ($) |
|
50,579 |
50,338 |
50,444 |
50,072 |
49,966 |
49,967 |
| Chained ($) dollars Y 2000 |
|
45,827 |
45,681 |
45,884 |
45,585 |
45,584 |
45,573 |
| Population (midperiod,
millions) |
|
330.23 |
330.07 |
329.88 |
329.49 |
329.30 |
329.30 |
Percentage Change in Personal Income & Its Disposition
(month on month seasonally adj. at annual rates, in %) |
Nov. 2019
rest. |
Oct. 2019
rest. |
Sep. 2019
rest. |
Aug. 2019
rest. |
July 2019
rest. |
June 2019
rest. |
| Personal income |
0.5 % |
0.1 % |
0.3 % |
0.1 % |
0.5 % |
0.4 % |
| Compensation of employees,
received |
0.4 % |
0.4 % |
0.1 % |
0.2 % |
0.5 % |
0.5 % |
| Wage & salary disbursements |
0.4 % |
0.5 % |
- % |
0.2 % |
0.5 % |
0.5 % |
| Supplements to wages &
salaries |
0.3 % |
0.4 % |
0.2 % |
0.3 % |
0.4 % |
0.4 % |
| Proprietors' Income |
1.9 % |
-1.1 % |
0.4 % |
0.5 % |
0.3 % |
0.4 % |
| Rental Income
of Persons |
0.5 % |
0.5 % |
- % |
0.5 % |
0.6 % |
0.6 % |
| Personal income receipts
on assets |
0.8 % |
-0.7 % |
0.9 % |
-0.8 % |
0.2 % |
0.3 % |
| Personal interest income |
1.4 % |
-1 % |
1.1 % |
-1.8 % |
0.4 % |
0.5 % |
| Personal dividend income |
-0.1 % |
-0.3 % |
0.5 % |
0.6 % |
- % |
- % |
| Personal current
transfer receipts |
0.1 % |
0.4 % |
0.3 % |
0.4 % |
0.6 % |
0.4 % |
| Less:
Contributions for social insurance |
0.3 % |
0.4 % |
- % |
0.2 % |
0.4 % |
0.5 % |
| Less: Personal
current taxes |
0.6 % |
0.8 % |
-0.3 % |
-0.9 % |
0.6 % |
0.6 % |
| Equals: Disposable personal
income |
0.5 % |
- % |
0.3 % |
0.3 % |
0.4 % |
0.4 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Personal consumption
expenditures |
- % |
- % |
- % |
- % |
- % |
- % |
| Goods |
0.4 % |
0.3 % |
0.2 % |
0.6 % |
0.3 % |
0.3 % |
| Durable goods |
0.5 % |
0.2 % |
- % |
0.9 % |
0.3 % |
0.3 % |
| Nondurable goods |
1 % |
-0.9 % |
0.4 % |
0.6 % |
0.4 % |
0.4 % |
| Services |
0.2 % |
0.7 % |
-0.1 % |
1.1 % |
0.3 % |
0.2 % |
| Based on chained (2000) dollar measures |
|
|
|
|
|
|
| Real disposable personal
income |
0.5 % |
-0.2 % |
0.3 % |
-0.1 % |
0.3 % |
0.3 % |
Personal
Income & Its Disposition
(Quarterly,
in Billions $) |
|
III Q. 2019
adv. |
II Q. 2019
adv. |
III Q. 2019
adv. |
II Q. 2019
adv. |
I Q. 2019
adv. |
II Q. 2019
adv. |
| Personal income |
|
18,718.4 |
18,600.8 |
18,772.4 |
18,600.8 |
17,975.9 |
18,596.8 |
|
Compensation of employees, received |
|
11,489.0 |
11,436.1 |
11,549.6 |
11,436.1 |
11,065.8 |
11,435.1 |
| Wage
& salary disbursements |
|
9,354.0 |
9,319.6 |
9,411.2 |
9,319.6 |
9,010.0 |
9,318.6 |
| Private
industries |
|
7,893.8 |
7,876.8 |
7,954.5 |
7,876.8 |
7,605.9 |
7,875.7 |
| Goods-producing
industries |
|
1,540.5 |
1,548.5 |
1,559.0 |
1,548.5 |
1,488.8 |
1,547.9 |
|
Manufacturing |
|
915.7 |
915.0 |
921.0 |
915.0 |
890.7 |
915.1 |
|
Services-producing industries |
|
6,353.3 |
6,328.4 |
6,395.5 |
6,328.4 |
6,117.1 |
6,327.9 |
|
Trade, transportation, & utilities |
|
1,418.0 |
1,408.3 |
1,420.4 |
1,408.3 |
1,387.8 |
1,409.7 |
|
Other services-producing industries |
|
4,935.3 |
4,920.1 |
4,975.1 |
4,920.1 |
4,729.3 |
4,918.2 |
| Government |
|
1,460.2 |
1,442.7 |
1,456.7 |
1,442.7 |
1,404.1 |
1,442.8 |
|
Supplements to wages & salaries |
|
2,135.1 |
2,116.5 |
2,138.4 |
2,116.5 |
2,055.7 |
2,116.6 |
| Employer
contr. for employee pension & insur. |
|
1,481.6 |
1,464.7 |
1,480.9 |
1,464.7 |
1,413.1 |
1,464.7 |
| Employer
contr. for govt. social insurance |
|
653.5 |
651.8 |
657.5 |
651.8 |
642.7 |
651.8 |
|
Proprietors Income with invent. valu. |
|
1,683.4 |
1,632.7 |
1,680.6 |
1,632.7 |
1,604.4 |
1,631.6 |
| Farm |
|
41.8 |
19.8 |
41.4 |
19.8 |
36.3 |
18.3 |
| Nonfarm |
|
1,641.5 |
1,612.9 |
1,639.2 |
1,612.9 |
1,568.1 |
1,613.3 |
|
Rental Inc. with capital consumption adj. |
|
779.7 |
778.6 |
781.0 |
778.6 |
779.1 |
777.8 |
|
Personal income receipts on assets |
|
2,997.7 |
3,016.2 |
3,001.2 |
3,016.2 |
2,783.1 |
3,019.5 |
| Personal interest
income |
|
1,716.8 |
1,750.8 |
1,719.8 |
1,750.8 |
1,614.3 |
1,754.9 |
| Personal dividend
income |
|
1,280.9 |
1,265.4 |
1,281.4 |
1,265.4 |
1,168.8 |
1,264.6 |
|
Personal current transfer receipts |
|
3,195.8 |
3,159.7 |
3,194.9 |
3,159.7 |
3,137.5 |
3,155.1 |
|
Government social benefits to persons |
|
3,141.2 |
3,105.2 |
3,140.3 |
3,105.2 |
3,074.5 |
3,100.7 |
| Old-age,
disability, & health insurance benefits |
|
1,037.7 |
1,030.5 |
1,037.5 |
1,030.5 |
1,022.7 |
1,030.5 |
| Government
unemployment insurance benefits |
|
25.8 |
25.9 |
25.8 |
25.9 |
25.2 |
26.0 |
| Other |
|
1,007.0 |
1,009.2 |
1,007.6 |
1,009.2 |
1,021.6 |
1,008.8 |
|
Other current transfers, from business |
|
54.6 |
54.4 |
54.6 |
54.4 |
63.0 |
54.4 |
|
Contributions for govt. social insurance |
|
-1,427.1 |
-1,422.4 |
-1,434.8 |
-1,422.4 |
-1,393.9 |
-1,422.3 |
| Personal current taxes |
|
-2,183.2 |
-2,210.4 |
-2,199.6 |
-2,210.4 |
-2,103.2 |
-2,207.4 |
| Disposable personal
income |
|
16,535.3 |
16,390.4 |
16,572.9 |
16,390.4 |
15,872.7 |
16,389.4 |
| Personal outlays |
|
-15,237.2 |
-15,074.2 |
-15,231.1 |
-15,074.2 |
-14,807.5 |
-15,065.4 |
|
Personal consumption expenditures |
|
14,678.2 |
14,511.3 |
14,669.3 |
14,511.3 |
14,238.6 |
14,499.7 |
| Goods |
|
4,556.7 |
4,508.8 |
4,558.8 |
4,508.8 |
4,375.9 |
4,503.8 |
| Durable
goods |
|
1,549.7 |
1,524.4 |
1,547.8 |
1,524.4 |
1,466.2 |
1,524.7 |
| Nondurable
goods |
|
3,007.0 |
2,984.4 |
3,011.0 |
2,984.4 |
2,909.7 |
2,979.1 |
| Services |
|
10,121.5 |
10,002.5 |
10,110.5 |
10,002.5 |
9,862.7 |
9,995.9 |
|
Personal interest payments |
|
359.1 |
363.2 |
361.7 |
363.2 |
362.7 |
365.7 |
|
Personal current transfer payments |
|
200.0 |
199.7 |
200.1 |
199.7 |
206.1 |
200.0 |
| To government |
|
109.1 |
108.6 |
109.1 |
108.6 |
114.5 |
108.6 |
| To the rest
of the world |
|
90.9 |
91.1 |
91.0 |
91.1 |
91.7 |
91.4 |
| Personal saving |
|
1,298.0 |
1,316.2 |
1,341.7 |
1,316.2 |
1,065.2 |
1,324.0 |
| Personal saving as
a percentage of disposable personal income % |
|
7.80 % |
8.00 % |
8.10 % |
8.00 % |
6.70 % |
8.10 % |
| Disposable personal
income: |
|
|
|
|
|
|
|
| Total, billions of chained
($) dollars Y 2000 |
|
14,121.4 |
14,102.7 |
14,169.9 |
14,102.7 |
13,611.8 |
14,101.3 |
| Per capita: |
|
|
|
|
|
|
|
| Current dollars ($) |
|
50,154 |
49,798 |
50,268 |
49,798 |
48,293 |
49,795 |
| Chained ($) dollars Y 2000 |
|
45,626 |
45,482 |
45,726 |
45,482 |
44,301 |
45,473 |
| Population (midperiod,
millions) |
|
329.69 |
329.14 |
329.69 |
329.14 |
328.68 |
329.14 |
Quarterly Growth in Personal Income & Its Disposition
(quarter on quarter seasonally adj. at annual rates, in %) |
III Q. 2019
adv. |
II Q. 2019
adv. |
III Q. 2019
adv. |
II Q. 2019
adv. |
I Q. 2019
adv. |
II Q. 2019
adv. |
| Personal income |
3.8 % |
5.5 % |
3.8 % |
5.5 % |
6.1 % |
5.4 % |
| Compensation of employees,
received |
4 % |
4.7 % |
4 % |
4.7 % |
9.2 % |
4.7 % |
| Wage & salary disbursements |
4 % |
4.8 % |
4 % |
4.8 % |
10.1 % |
4.9 % |
| Supplements to wages &
salaries |
4.2 % |
4.2 % |
4.2 % |
4.2 % |
5.4 % |
4.2 % |
| Proprietors' Income |
12.2 % |
2.9 % |
12.2 % |
2.9 % |
-0.8 % |
2.6 % |
| Rental Income
of Persons |
2 % |
6.1 % |
2 % |
6.1 % |
1.5 % |
5.7 % |
| Personal income receipts
on assets |
-2 % |
8.5 % |
-2 % |
8.5 % |
-6.1 % |
9 % |
| Personal interest income |
-6.8 % |
12.7 % |
-6.8 % |
12.7 % |
-6.3 % |
13.7 % |
| Personal dividend income |
5 % |
3.1 % |
5 % |
3.1 % |
-5.8 % |
2.8 % |
| Personal current
transfer receipts |
4.7 % |
6.1 % |
4.7 % |
6.1 % |
15.4 % |
5.5 % |
| Less:
Contributions for social insurance |
3.5 % |
4.3 % |
3.5 % |
4.3 % |
11.7 % |
4.4 % |
| Less: Personal
current taxes |
-1.6 % |
10.3 % |
-1.6 % |
10.3 % |
16.1 % |
9.8 % |
| Equals: Disposable personal
income |
4.5 % |
4.8 % |
4.5 % |
4.8 % |
4.8 % |
4.9 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Personal consumption
expenditures |
4.4 % |
7 % |
4.4 % |
7 % |
1.5 % |
6.7 % |
| Goods |
4.7 % |
10.5 % |
4.7 % |
10.5 % |
-0.2 % |
10 % |
| Durable goods |
6.2 % |
10.9 % |
6.2 % |
10.9 % |
-0.1 % |
11 % |
| Nondurable goods |
3.9 % |
10.3 % |
3.9 % |
10.3 % |
-0.2 % |
9.5 % |
| Services |
4.3 % |
5.5 % |
4.3 % |
5.5 % |
2.3 % |
5.3 % |
| Based on chained (2000) dollar measures |
|
|
|
|
|
|
| Real disposable personal
income |
2.9 % |
2.5 % |
2.9 % |
2.5 % |
4.4 % |
2.5 % |
Personal
Income & Its Disposition
(Annually,
in Billions $) |
|
2018
|
2017
|
2016
|
2015
|
2014
|
2013
|
| Personal income |
|
17,819.2 |
16,830.9 |
16,011.6 |
15,458.5 |
14,728.6 |
14,133.5 |
|
Compensation of employees, received |
|
10,928.5 |
10,407.2 |
10,101.3 |
9,693.1 |
9,221.6 |
8,859.4 |
| Wage
& salary disbursements |
|
8,888.5 |
8,453.8 |
8,189.2 |
7,854.8 |
7,446.0 |
7,137.8 |
| Private
industries |
|
7,485.9 |
7,108.1 |
6,878.1 |
6,580.3 |
6,223.9 |
5,943.2 |
| Goods-producing
industries |
|
1,471.6 |
1,390.3 |
1,351.0 |
1,308.1 |
1,261.6 |
1,192.9 |
|
Manufacturing |
|
883.2 |
846.4 |
829.4 |
806.7 |
777.2 |
749.3 |
|
Services-producing industries |
|
6,014.3 |
5,717.8 |
5,527.1 |
5,272.2 |
4,962.2 |
4,750.3 |
|
Trade, transportation, & utilities |
|
1,361.0 |
1,313.5 |
1,278.4 |
1,237.1 |
1,172.1 |
1,128.7 |
|
Other services-producing industries |
|
4,653.3 |
4,404.3 |
4,248.8 |
4,035.1 |
3,790.1 |
3,621.6 |
| Government |
|
1,402.6 |
1,345.7 |
1,311.1 |
1,274.5 |
1,222.1 |
1,194.6 |
|
Supplements to wages & salaries |
|
2,040.0 |
1,953.4 |
1,912.2 |
1,838.2 |
1,775.6 |
1,721.7 |
| Employer
contr. for employee pension & insur. |
|
1,417.2 |
1,348.1 |
1,325.4 |
1,270.5 |
1,226.4 |
1,190.5 |
| Employer
contr. for govt. social insurance |
|
622.8 |
605.3 |
586.7 |
567.7 |
549.2 |
531.2 |
|
Proprietors Income with invent. valu. |
|
1,588.8 |
1,500.9 |
1,417.5 |
1,376.8 |
1,380.2 |
1,347.2 |
| Farm |
|
27.2 |
38.9 |
27.8 |
39.9 |
63.6 |
126.8 |
| Nonfarm |
|
1,561.6 |
1,462.0 |
1,389.7 |
1,336.8 |
1,316.6 |
1,220.4 |
|
Rental Inc. with capital consumption adj. |
|
756.8 |
730.2 |
704.7 |
659.6 |
640.2 |
590.3 |
|
Personal income receipts on assets |
|
2,930.1 |
2,631.6 |
2,262.9 |
2,253.8 |
2,125.3 |
1,997.6 |
| Personal interest
income |
|
1,702.7 |
1,523.0 |
1,314.5 |
1,302.7 |
1,264.7 |
1,228.3 |
| Personal dividend
income |
|
1,227.5 |
1,108.6 |
948.4 |
951.1 |
860.6 |
769.3 |
|
Personal current transfer receipts |
|
2,971.5 |
2,859.7 |
2,775.4 |
2,678.6 |
2,522.7 |
2,444.9 |
|
Government social benefits to persons |
|
2,918.3 |
2,804.0 |
2,722.1 |
2,627.2 |
2,478.5 |
2,400.3 |
| Old-age,
disability, & health insurance benefits |
|
972.4 |
926.1 |
896.5 |
871.8 |
587.8 |
592.5 |
| Government
unemployment insurance benefits |
|
27.1 |
29.1 |
30.1 |
32.2 |
36.9 |
65.9 |
| Other |
|
960.6 |
955.2 |
95.7 |
90.3 |
445.1 |
430.5 |
|
Other current transfers, from business |
|
53.2 |
55.7 |
53.3 |
51.4 |
44.2 |
44.6 |
|
Contributions for govt. social insurance |
|
-1,356.5 |
-1,298.6 |
-1,250.3 |
-1,203.5 |
-1,161.3 |
-1,106.0 |
| Personal current taxes |
|
-2,077.6 |
-2,034.6 |
-1,965.6 |
-1,938.7 |
-1,742.9 |
-1,659.3 |
| Disposable personal
income |
|
15,741.5 |
14,796.3 |
14,045.9 |
13,519.8 |
12,985.8 |
12,474.2 |
| Personal outlays |
|
-14,531.1 |
-13,809.5 |
-13,227.1 |
-12,736.2 |
-12,357.5 |
-11,912.8 |
|
Personal consumption expenditures |
|
13,998.7 |
13,321.4 |
12,757.9 |
12,283.7 |
11,930.3 |
11,499.3 |
| Goods |
|
4,364.8 |
4,156.1 |
4,098.4 |
4,012.1 |
3,968.7 |
3,888.9 |
| Durable
goods |
|
1,475.6 |
1,406.5 |
1,402.9 |
1,355.2 |
1,302.5 |
1,265.2 |
| Nondurable
goods |
|
2,889.2 |
2,749.6 |
2,695.5 |
2,656.9 |
2,666.2 |
2,623.7 |
| Services |
|
9,633.9 |
9,165.3 |
8,659.6 |
8,271.6 |
7,961.7 |
7,610.4 |
|
Personal interest payments |
|
336.7 |
293.9 |
274.9 |
263.8 |
256.8 |
248.0 |
|
Personal current transfer payments |
|
195.8 |
194.2 |
194.3 |
188.8 |
170.3 |
165.5 |
| To government |
|
106.9 |
107.3 |
108.8 |
103.3 |
94.8 |
90.4 |
| To the rest
of the world |
|
88.9 |
86.9 |
85.5 |
85.4 |
75.6 |
75.1 |
| Personal saving |
|
1,210.4 |
986.8 |
818.8 |
783.6 |
628.3 |
561.4 |
| Personal saving as
a percentage of disposable personal income % |
|
7.70 % |
6.70 % |
5.80 % |
5.80 % |
4.80 % |
4.50 % |
| Disposable personal
income: |
|
|
|
|
|
|
|
| Total, billions of chained
($) dollars Y 2000 |
|
13,729.6 |
13,171.4 |
12,685.5 |
12,343.3 |
11,222.4 |
10,904.8 |
| Per capita: |
|
|
|
|
|
|
|
| Current dollars ($) |
|
48,075 |
45,390 |
43,433 |
42,026 |
40,686 |
39,410 |
| Chained ($) dollars Y 2000 |
|
44,455 |
42,791 |
39,226 |
38,368 |
37,407 |
36,767 |
| Population (midperiod,
millions) |
|
327.44 |
325.98 |
323.39 |
321.70 |
319.17 |
316.52 |
Annual Growth in Personal Income & Its Disposition
(year on year, in %) |
Nov. 2019
rest. |
Oct. 2019
rest. |
Sep. 2019
rest. |
Aug. 2019
rest. |
July 2019
rest. |
June 2019
rest. |
| Personal income |
0.5 % |
0.1 % |
0.3 % |
0.1 % |
0.5 % |
0.4 % |
| Compensation of employees,
received |
0.4 % |
0.4 % |
0.1 % |
0.2 % |
0.5 % |
0.5 % |
| Wage & salary disbursements |
0.4 % |
0.5 % |
- % |
0.2 % |
0.5 % |
0.5 % |
| Supplements to wages &
salaries |
0.3 % |
0.4 % |
0.2 % |
0.3 % |
0.4 % |
0.4 % |
| Proprietors' Income |
1.9 % |
-1.1 % |
0.4 % |
0.5 % |
0.3 % |
0.4 % |
| Rental Income
of Persons |
0.5 % |
0.5 % |
- % |
0.5 % |
0.6 % |
0.6 % |
| Personal income receipts
on assets |
0.8 % |
-0.7 % |
0.9 % |
-0.8 % |
0.2 % |
0.3 % |
| Personal interest income |
1.4 % |
-1 % |
1.1 % |
-1.8 % |
0.4 % |
0.5 % |
| Personal dividend income |
-0.1 % |
-0.3 % |
0.5 % |
0.6 % |
- % |
- % |
| Personal current
transfer receipts |
0.1 % |
0.4 % |
0.3 % |
0.4 % |
0.6 % |
0.4 % |
| Less:
Contributions for social insurance |
0.3 % |
0.4 % |
- % |
0.2 % |
0.4 % |
0.5 % |
| Less: Personal
current taxes |
0.6 % |
0.8 % |
-0.3 % |
-0.9 % |
0.6 % |
0.6 % |
| Equals: Disposable personal
income |
0.5 % |
- % |
0.3 % |
0.3 % |
0.4 % |
0.4 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Personal consumption
expenditures |
- % |
- % |
- % |
- % |
- % |
- % |
| Goods |
0.4 % |
0.3 % |
0.2 % |
0.6 % |
0.3 % |
0.3 % |
| Durable goods |
0.5 % |
0.2 % |
- % |
0.9 % |
0.3 % |
0.3 % |
| Nondurable goods |
1 % |
-0.9 % |
0.4 % |
0.6 % |
0.4 % |
0.4 % |
| Services |
0.2 % |
0.7 % |
-0.1 % |
1.1 % |
0.3 % |
0.2 % |
| Based on chained (2000) dollar measures |
|
|
|
|
|
|
| Real disposable personal
income |
0.5 % |
-0.2 % |
0.3 % |
-0.1 % |
0.3 % |
0.3 % |
Source: Department of Commerce, Bea.gov
|
|
