Incomes rose 0.3 % in March 202 spending ebbs
Personal Income and Its Disposition Report U.S. Economy
Modified 2023-05-17T07:29:56+00:00
Goran Soko / CSIMarket.com Contributer
Americans cut back on spending in March 202 and increased their savings, another sign that the U.S. economy has cooled off, government data showed.
Personal income inched up 0.3 % in March 202 at the annualized rate of $22.72 trillion on the seasonally adjusted basis, reported by the Commerce Department.
Yet spending has barely changed over the past month, indicating consumers have grown more cautious and they are trying to rebuild their savings. Businesses, for their part, have less reason to hire and boost production if consumer demand slackens. And without more hiring, consumer spending is likely to remain subdued.
Disposable personal income has climbed by 0.4 %, averaging income $59,103 at the annualized rate for every American. |
Wages have increased on the same pace like in previous month, with biggest gain in Goods-producing industries increase of 0.45 %, wages in Government Sector grew as well, followed on the same pace by supplements to wages and salaries, as employers have paid more for government social insurance.
Americans had higher proceeds from dividends and real-estate in March 202, rental income increased 1.4 %, helping to boost overall income.
Personal consumption expenditures remained unchanged. The combination of higher income and lower spending allowed consumers to boost their savings rate to 5.1 % from 4.8 % in February 2023, although interest income fell.
Consumers appear to already have begun the process of paying down their debt loads. With the savings ratio already rising back upward, stronger income growth should lead to improved spending in the coming months.
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Private
industries |
Goods-producing
industries |
Services |
Government |
|
0.32% |
6.37% |
0.45% |
5.25% |
0.29% |
6.63% |
0.40% |
5.51% |
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 0.33 % from Feb. 2023 and
advanced by 6.02 % from March 2022, while wage & salary disbursements
rose by 0.33 % sequentially and
grew by 6.25 % from same month year ago, now representing 82.71
% of total compensation of employees. |
|
|
Supplements to Wages
Supplements to wages & salaries now representing 17.29
% of total compensation of employees with an
increase of 0.30 % from Feb. 2023 and an
increase by 4.94 % from March 2022.
|
| Compensation |
Compensation of employees
Compensation of employees
grew by 0.33 % from Feb. 2023 and
advanced by 6.02 % from March 2022, while wage & salary disbursements
rose by 0.33 % sequentially and
grew by 6.25 % from same month year ago, now representing 82.71
% of total compensation of employees. |
| Compensation |
Supplements to Wages
Supplements to wages & salaries now representing 17.29
% of total compensation of employees with an
increase of 0.30 % from Feb. 2023 and an
increase by 4.94 % from March 2022. |
| |
|
Wage
& salary disbursements |
| Wages
& Salaries from private industries
rose by
0.32 % sequentially and
grew by
6.37 % from same month year ago, now representing 85.77
% of total wage & salary disbursements, while
Wages & Salaries from government
grew by
0.40 % from Feb. 2023 and
increased by
5.51 % from March 2022, now representing
14.23
% of total wage & salary disbursements. |
|
|
Personal Income Receipts On Assets |
|
|
Capital Consumption |
|
|
|
Interest & Other
Personal interest income
fell by
-0.12 % sequentially while Personal dividend income
grew by
1.26 % from Feb. 2023. Compare to same quarter
a year ago, personal interest income
went up by
6.60 % and personal dividend income
grew by
24.74 %.
Personal interest payments excluding mortgage interests
increased by
2.94 % sequentially and
advanced by
61.15 % from same month year ago. |
|
|
Proprietors Income & Capital Consumption
Proprietors Income
fell by
-0.13 % sequentially and
fell by
-0.82 % from same month year ago, now representing 8.30
% of total personal income.
Rental Income with capital consumption adjustment grew by
1.41 % from Feb. 2023 and
increased by
12.10 % from same month year ago.
|
| Personal Income Receipts On Assets |
Interest & Other
Personal interest income
fell by
-0.12 % sequentially while Personal dividend income
grew by
1.26 % from Feb. 2023. Compare to same quarter
a year ago, personal interest income
went up by
6.60 % and personal dividend income
grew by
24.74 %.
Personal interest payments excluding mortgage interests
increased by
2.94 % sequentially and
advanced by
61.15 % from same month year ago. |
| Capital Consumption |
Proprietors Income & Capital Consumption
Proprietors Income
fell by
-0.13 % sequentially and
fell by
-0.82 % from same month year ago, now representing 8.30
% of total personal income.
Rental Income with capital consumption adjustment grew by
1.41 % from Feb. 2023 and
increased by
12.10 % from same month year ago. |
Personal
Income & Its Disposition
(Monthly at Annual rates,
in Billions $) |
|
March 2023
adv. |
Feb. 2023
adv. |
Jan. 2023
adv. |
Dec. 2022
adv. |
Nov. 2022
adv. |
Oct. 2022
adv. |
| Personal income |
|
22,717.0 |
22,649.1 |
22,562.4 |
22,431.3 |
22,172.1 |
22,092.0 |
|
Compensation of employees, received |
|
14,224.9 |
14,178.7 |
14,149.7 |
14,029.0 |
13,831.7 |
13,765.2 |
| Wage
& salary disbursements |
|
11,765.6 |
11,726.8 |
11,704.3 |
11,596.8 |
11,417.5 |
11,360.4 |
| Private
industries |
|
10,091.8 |
10,059.7 |
10,047.1 |
9,947.1 |
9,775.1 |
9,723.6 |
| Goods-producing
industries |
|
1,845.7 |
1,837.4 |
1,838.6 |
1,816.6 |
1,783.6 |
1,777.7 |
|
Manufacturing |
|
1,082.5 |
1,078.0 |
1,079.9 |
1,066.3 |
1,051.7 |
1,051.2 |
|
Services-producing industries |
|
8,246.1 |
8,222.4 |
8,208.6 |
8,130.5 |
7,991.6 |
7,945.9 |
|
Trade, transportation, & utilities |
|
1,813.5 |
1,813.0 |
1,808.1 |
1,781.3 |
1,743.1 |
1,730.7 |
|
Other services-producing industries |
|
6,432.6 |
6,409.4 |
6,400.5 |
6,349.3 |
6,248.5 |
6,215.2 |
| Government |
|
1,673.8 |
1,667.1 |
1,657.1 |
1,649.7 |
1,642.4 |
1,636.8 |
|
Supplements to wages & salaries |
|
2,459.3 |
2,451.9 |
2,445.4 |
2,432.1 |
2,414.2 |
2,404.8 |
| Employer
contr. for employee pension & insur. |
|
1,657.0 |
1,651.9 |
1,646.7 |
1,642.7 |
1,636.5 |
1,630.9 |
| Employer
contr. for govt. social insurance |
|
802.3 |
800.0 |
798.7 |
789.5 |
777.7 |
773.9 |
|
Proprietors Income with invent. valu. |
|
1,884.6 |
1,887.0 |
1,897.5 |
1,889.8 |
1,867.5 |
1,871.2 |
| Farm |
|
91.5 |
95.3 |
99.6 |
102.4 |
89.3 |
93.2 |
| Nonfarm |
|
1,793.1 |
1,791.7 |
1,797.9 |
1,787.4 |
1,778.3 |
1,778.0 |
|
Rental Inc. with capital consumption adj. |
|
853.4 |
841.5 |
828.9 |
816.5 |
794.7 |
795.7 |
|
Personal income receipts on assets |
|
3,467.6 |
3,449.2 |
3,437.1 |
3,419.6 |
3,416.0 |
3,399.8 |
| Personal interest
income |
|
1,806.1 |
1,808.3 |
1,803.2 |
1,800.6 |
1,766.5 |
1,755.5 |
| Personal dividend
income |
|
1,661.5 |
1,640.9 |
1,633.9 |
1,619.0 |
1,649.5 |
1,644.2 |
|
Personal current transfer receipts |
|
4,045.6 |
4,046.9 |
4,003.4 |
4,003.8 |
3,966.3 |
3,956.6 |
|
Government social benefits to persons |
|
3,974.0 |
3,975.6 |
3,932.0 |
3,934.2 |
3,896.9 |
3,887.2 |
| Old-age,
disability, & health insurance benefits |
|
1,339.9 |
1,340.5 |
1,333.6 |
1,223.9 |
1,224.3 |
1,227.6 |
| Government
unemployment insurance benefits |
|
974.4 |
966.6 |
958.4 |
949.7 |
941.5 |
933.8 |
| Other |
|
817.6 |
813.5 |
795.8 |
796.5 |
782.4 |
782.7 |
|
Other current transfers, from business |
|
-71.6 |
-71.3 |
-71.4 |
-69.6 |
-69.5 |
-69.4 |
|
Contributions for govt. social insurance |
|
-1,759.2 |
-1,754.2 |
-1,754.1 |
-1,727.5 |
-1,704.3 |
-1,696.5 |
| Personal current taxes |
|
2,931.9 |
2,935.7 |
2,967.6 |
3,223.9 |
3,268.6 |
3,257.1 |
| Disposable personal
income |
|
-19,785.1 |
-19,713.3 |
-19,594.8 |
-19,207.4 |
-18,903.5 |
-18,834.9 |
| Personal outlays |
|
18,783.2 |
18,761.7 |
18,676.0 |
18,349.2 |
18,442.3 |
18,415.7 |
|
Personal consumption expenditures |
|
6,057.5 |
6,094.2 |
6,042.9 |
5,880.6 |
6,007.9 |
6,067.3 |
| Goods |
|
6.1 |
6.1 |
6.0 |
5.9 |
6.0 |
6.1 |
| Durable
goods |
|
2,237.6 |
2,257.6 |
2,241.7 |
2,125.1 |
2,184.1 |
2,235.4 |
| Nondurable
goods |
|
3,820.0 |
3,836.7 |
3,801.2 |
3,755.5 |
3,823.8 |
3,831.9 |
| Services |
|
12,046.6 |
12,001.7 |
12,007.8 |
11,857.5 |
11,820.2 |
11,741.0 |
|
Personal interest payments |
|
455.1 |
442.1 |
400.4 |
386.2 |
388.8 |
382.2 |
|
Personal current transfer payments |
|
223.8 |
223.6 |
225.0 |
224.8 |
225.4 |
225.2 |
| To government |
|
118.0 |
117.8 |
117.3 |
117.2 |
117.1 |
116.9 |
| To the rest
of the world |
|
105.8 |
105.8 |
107.6 |
107.6 |
108.3 |
108.3 |
| Personal saving |
|
1.0 |
1.0 |
0.9 |
0.9 |
0.5 |
0.4 |
| Personal saving as
a percentage of disposable personal income % |
|
5.10 % |
4.80 % |
4.70 % |
4.50 % |
2.40 % |
2.20 % |
| Disposable personal
income: |
|
|
|
|
|
|
|
| Total, billions of chained
($) dollars Y 2000 |
|
14,778.8 |
14,735.2 |
14,745.0 |
14,731.2 |
14,598.2 |
14,557.0 |
| Per capita: |
|
|
|
|
|
|
|
| Current dollars ($) |
|
59,103 |
58,910 |
58,573 |
57,435 |
56,675 |
56,484 |
| Chained ($) dollars Y 2000 |
|
46,782 |
46,664 |
46,536 |
45,915 |
45,444 |
45,338 |
| Population (midperiod,
millions) |
|
334.75 |
334.64 |
334.53 |
334.42 |
333.54 |
333.46 |
Percentage Change in Personal Income & Its Disposition
(month on month seasonally adj. at annual rates, in %) |
March 2023
rest. |
Feb. 2023
rest. |
Jan. 2023
rest. |
Dec. 2022
rest. |
Nov. 2022
rest. |
Oct. 2022
rest. |
| Personal income |
0.3 % |
0.3 % |
0.6 % |
0.3 % |
0.4 % |
0.3 % |
| Compensation of employees,
received |
0.3 % |
0.3 % |
0.9 % |
0.4 % |
0.5 % |
0.3 % |
| Wage & salary disbursements |
0.3 % |
0.3 % |
0.9 % |
0.4 % |
0.5 % |
0.3 % |
| Supplements to wages &
salaries |
0.3 % |
0.3 % |
0.5 % |
0.3 % |
0.4 % |
0.3 % |
| Proprietors' Income |
-0.1 % |
-0.2 % |
0.4 % |
0.4 % |
-0.2 % |
1.2 % |
| Rental Income
of Persons |
1.4 % |
1.4 % |
1.5 % |
1 % |
-0.1 % |
0.4 % |
| Personal income receipts
on assets |
0.5 % |
0.1 % |
0.5 % |
0.1 % |
0.5 % |
-0.1 % |
| Personal interest income |
-0.1 % |
-0.1 % |
0.1 % |
1.1 % |
0.6 % |
-0.2 % |
| Personal dividend income |
1.3 % |
0.3 % |
0.9 % |
-0.9 % |
0.3 % |
- % |
| Personal current
transfer receipts |
- % |
0.7 % |
- % |
0.1 % |
0.2 % |
0.2 % |
| Less:
Contributions for social insurance |
0.3 % |
0.2 % |
1.5 % |
0.3 % |
0.5 % |
0.3 % |
| Less: Personal
current taxes |
-0.1 % |
-0.6 % |
-7.9 % |
-0.2 % |
0.4 % |
0.1 % |
| Equals: Disposable personal
income |
0.4 % |
0.5 % |
2 % |
0.4 % |
0.4 % |
0.4 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Personal consumption
expenditures |
- % |
0.1 % |
1.8 % |
-0.1 % |
0.1 % |
0.4 % |
| Goods |
-0.6 % |
-0.2 % |
2.8 % |
-1.6 % |
-1 % |
-0.5 % |
| Durable goods |
-0.9 % |
-1.5 % |
5.5 % |
-2 % |
-2.3 % |
0.1 % |
| Nondurable goods |
-0.4 % |
0.6 % |
1.2 % |
-1.3 % |
-0.2 % |
-0.8 % |
| Services |
0.4 % |
0.2 % |
1.3 % |
0.6 % |
0.7 % |
0.8 % |
| Based on chained (2000) dollar measures |
|
|
|
|
|
|
| Real disposable personal
income |
0.3 % |
0.2 % |
1.4 % |
0.2 % |
0.3 % |
0.1 % |
Personal
Income & Its Disposition
(Quarterly,
in Billions $) |
|
I Q. 2023
adv. |
IV Q. 2022
adv. |
IV Q. 2022
adv. |
III Q. 2022
adv. |
III Q. 2022
adv. |
II Q. 2022
adv. |
| Personal income |
|
22,647.2 |
22,357.6 |
22,357.6 |
21,861.4 |
21,861.4 |
21,625.5 |
|
Compensation of employees, received |
|
14,180.8 |
13,975.9 |
13,975.9 |
13,632.1 |
13,632.1 |
13,469.0 |
| Wage
& salary disbursements |
|
11,728.7 |
11,552.5 |
11,552.5 |
11,245.8 |
11,245.8 |
11,108.4 |
| Private
industries |
|
10,061.7 |
9,909.4 |
9,909.4 |
9,622.1 |
9,622.1 |
9,508.1 |
| Goods-producing
industries |
|
1,840.4 |
1,812.9 |
1,812.9 |
1,760.1 |
1,760.1 |
1,733.4 |
|
Manufacturing |
|
1,080.8 |
1,069.2 |
1,069.2 |
1,041.7 |
1,041.7 |
1,023.3 |
|
Services-producing industries |
|
8,221.4 |
8,096.5 |
8,096.5 |
7,861.9 |
7,861.9 |
7,774.7 |
|
Trade, transportation, & utilities |
|
1,812.0 |
1,778.3 |
1,778.3 |
1,713.3 |
1,713.3 |
1,720.1 |
|
Other services-producing industries |
|
6,409.3 |
6,318.2 |
6,318.2 |
6,148.6 |
6,148.6 |
6,054.5 |
| Government |
|
1,667.0 |
1,643.1 |
1,643.1 |
1,623.8 |
1,623.8 |
1,600.4 |
|
Supplements to wages & salaries |
|
2,452.1 |
2,423.4 |
2,423.4 |
2,386.3 |
2,386.3 |
2,360.5 |
| Employer
contr. for employee pension & insur. |
|
1,652.0 |
1,636.8 |
1,636.8 |
1,620.0 |
1,620.0 |
1,603.6 |
| Employer
contr. for govt. social insurance |
|
800.1 |
786.6 |
786.6 |
766.3 |
766.3 |
756.9 |
|
Proprietors Income with invent. valu. |
|
1,887.4 |
1,883.5 |
1,883.5 |
1,863.5 |
1,863.5 |
1,835.4 |
| Farm |
|
95.3 |
100.6 |
100.6 |
95.9 |
95.9 |
95.7 |
| Nonfarm |
|
1,792.2 |
1,782.9 |
1,782.9 |
1,767.6 |
1,767.6 |
1,739.7 |
|
Rental Inc. with capital consumption adj. |
|
841.7 |
809.4 |
809.4 |
794.9 |
794.9 |
775.9 |
|
Personal income receipts on assets |
|
3,454.1 |
3,414.8 |
3,414.8 |
3,358.8 |
3,358.8 |
3,323.0 |
| Personal interest
income |
|
1,808.2 |
1,781.7 |
1,781.7 |
1,738.1 |
1,738.1 |
1,708.6 |
| Personal dividend
income |
|
1,645.9 |
1,633.1 |
1,633.1 |
1,620.7 |
1,620.7 |
1,614.4 |
|
Personal current transfer receipts |
|
4,037.7 |
3,995.4 |
3,995.4 |
3,892.8 |
3,892.8 |
3,883.2 |
|
Government social benefits to persons |
|
3,966.4 |
3,925.9 |
3,925.9 |
3,823.0 |
3,823.0 |
3,809.1 |
| Old-age,
disability, & health insurance benefits |
|
813.1 |
793.3 |
793.3 |
786.1 |
786.1 |
789.5 |
| Government
unemployment insurance benefits |
|
332.6 |
328.0 |
328.0 |
323.4 |
323.4 |
319.4 |
| Other |
|
659.0 |
780.5 |
780.5 |
721.7 |
721.7 |
722.7 |
|
Other current transfers, from business |
|
-71.3 |
-69.5 |
-69.5 |
-69.8 |
-69.8 |
-74.1 |
|
Contributions for govt. social insurance |
|
-1,754.4 |
-1,721.6 |
-1,721.6 |
-1,680.8 |
-1,680.8 |
-1,660.9 |
| Personal current taxes |
|
2,940.0 |
3,232.5 |
3,232.5 |
3,229.2 |
3,229.2 |
3,197.9 |
| Disposable personal
income |
|
-19,707.2 |
-19,125.1 |
-19,125.1 |
-18,632.2 |
-18,632.2 |
-18,427.6 |
| Personal outlays |
|
18,761.0 |
18,370.1 |
18,370.1 |
18,124.5 |
18,124.5 |
17,798.7 |
|
Personal consumption expenditures |
|
6,085.8 |
5,972.9 |
5,972.9 |
5,988.6 |
5,988.6 |
5,953.6 |
| Goods |
|
6,085.8 |
5,972.9 |
5,972.9 |
5,988.6 |
5,988.6 |
5,953.6 |
| Durable
goods |
|
2,262.0 |
2,177.2 |
2,177.2 |
2,195.8 |
2,195.8 |
2,181.8 |
| Nondurable
goods |
|
3,823.8 |
3,795.6 |
3,795.6 |
3,792.7 |
3,792.7 |
3,771.9 |
| Services |
|
12,009.5 |
11,789.9 |
11,789.9 |
11,554.1 |
11,554.1 |
11,307.7 |
|
Personal interest payments |
|
442.1 |
382.7 |
382.7 |
357.1 |
357.1 |
313.1 |
|
Personal current transfer payments |
|
223.6 |
224.7 |
224.7 |
224.7 |
224.7 |
224.2 |
| To government |
|
117.8 |
117.0 |
117.0 |
116.4 |
116.4 |
115.4 |
| To the rest
of the world |
|
105.8 |
107.6 |
107.6 |
108.3 |
108.3 |
108.8 |
| Personal saving |
|
0.9 |
0.8 |
0.8 |
0.5 |
0.5 |
0.6 |
| Personal saving as
a percentage of disposable personal income % |
|
4.80 % |
3.90 % |
3.90 % |
2.70 % |
2.70 % |
3.40 % |
| Disposable personal
income: |
|
|
|
|
|
|
|
| Total, billions of chained
($) dollars Y 2000 |
|
15,622.2 |
15,318.0 |
15,318.0 |
15,059.1 |
15,059.1 |
15,052.1 |
| Per capita: |
|
|
|
|
|
|
|
| Current dollars ($) |
|
58,891 |
57,212 |
57,212 |
55,912 |
55,912 |
55,348 |
| Chained ($) dollars Y 2000 |
|
58,891 |
57,212 |
57,212 |
55,912 |
55,912 |
55,348 |
| Population (midperiod,
millions) |
|
334.64 |
334.28 |
334.28 |
333.24 |
333.24 |
332.94 |
Quarterly Growth in Personal Income & Its Disposition
(quarter on quarter seasonally adj. at annual rates, in %) |
I Q. 2023
adv. |
IV Q. 2022
adv. |
IV Q. 2022
adv. |
III Q. 2022
adv. |
III Q. 2022
adv. |
II Q. 2022
adv. |
| Personal income |
5.1 % |
7.3 % |
7.3 % |
7.5 % |
5.4 % |
5.9 % |
| Compensation of employees,
received |
6.1 % |
6.6 % |
6.6 % |
10.5 % |
6.6 % |
6.5 % |
| Wage & salary disbursements |
6.4 % |
6.9 % |
6.9 % |
11.4 % |
7 % |
6.9 % |
| Supplements to wages &
salaries |
4.8 % |
5 % |
5 % |
6.4 % |
5 % |
4.6 % |
| Proprietors' Income |
1 % |
4.4 % |
4.4 % |
6.3 % |
6.3 % |
5.4 % |
| Rental Income
of Persons |
15.6 % |
7.5 % |
7.5 % |
10.2 % |
10.2 % |
17.7 % |
| Personal income receipts
on assets |
3.6 % |
6.8 % |
6.8 % |
4.4 % |
4.4 % |
6.7 % |
| Personal interest income |
4.4 % |
10.4 % |
10.4 % |
7.1 % |
7.1 % |
9.4 % |
| Personal dividend income |
2.7 % |
3.1 % |
3.1 % |
1.6 % |
1.6 % |
3.9 % |
| Personal current
transfer receipts |
4 % |
11 % |
11 % |
1 % |
1 % |
1.5 % |
| Less:
Contributions for social insurance |
8 % |
6.3 % |
6.3 % |
10.3 % |
6.5 % |
6.6 % |
| Less: Personal
current taxes |
-31.6 % |
-0.5 % |
-0.5 % |
6.2 % |
5.2 % |
6.8 % |
| Equals: Disposable personal
income |
12.5 % |
8.6 % |
8.6 % |
7.7 % |
5.4 % |
5.7 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Personal consumption
expenditures |
7.3 % |
-1 % |
-1 % |
2.4 % |
2.4 % |
7.8 % |
| Goods |
7.3 % |
-1 % |
-1 % |
2.4 % |
2.4 % |
7.8 % |
| Durable goods |
15.8 % |
-3.3 % |
-3.3 % |
2.6 % |
2.6 % |
-0.4 % |
| Nondurable goods |
2.6 % |
0.3 % |
0.3 % |
2.2 % |
2.2 % |
12.9 % |
| Services |
1.1 % |
2.7 % |
2.7 % |
4.4 % |
1.9 % |
-0.4 % |
| Based on chained (2000) dollar measures |
|
|
|
|
|
|
| Real disposable personal
income |
8 % |
4.8 % |
4.8 % |
3.2 % |
1 % |
-1.5 % |
Personal
Income & Its Disposition
(Annually,
in Billions $) |
|
2022
|
2021
|
2020
|
2019
|
2018
|
2017
|
| Personal income |
|
21,806.3 |
21,077.2 |
19,627.6 |
18,601.4 |
17,819.2 |
16,830.9 |
|
Compensation of employees, received |
|
13,601.5 |
12,580.9 |
11,572.2 |
11,420.4 |
10,928.5 |
10,407.2 |
| Wage
& salary disbursements |
|
11,224.3 |
10,327.1 |
9,444.1 |
9,297.4 |
8,888.5 |
8,453.8 |
| Private
industries |
|
9,610.5 |
8,791.6 |
7,949.6 |
7,845.7 |
7,485.9 |
7,108.1 |
| Goods-producing
industries |
|
1,758.2 |
1,643.4 |
1,514.0 |
1,532.8 |
1,471.6 |
1,390.3 |
|
Manufacturing |
|
1,041.4 |
973.0 |
904.4 |
908.4 |
883.2 |
846.4 |
|
Services-producing industries |
|
7,852.3 |
7,148.3 |
6,435.6 |
6,312.8 |
6,014.3 |
5,717.8 |
|
Trade, transportation, & utilities |
|
1,731.1 |
1,601.2 |
1,443.2 |
1,413.7 |
1,361.0 |
1,313.5 |
|
Other services-producing industries |
|
6,121.2 |
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 |
|
2,377.2 |
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 |
|
764.7 |
727.3 |
663.7 |
649.9 |
622.8 |
605.3 |
|
Proprietors Income with invent. valu. |
|
1,848.5 |
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 |
|
1,756.8 |
1,724.1 |
1,579.9 |
1,626.0 |
1,561.6 |
1,462.0 |
|
Rental Inc. with capital consumption adj. |
|
781.3 |
726.4 |
711.6 |
778.2 |
756.8 |
730.2 |
|
Personal income receipts on assets |
|
3,341.6 |
2,941.3 |
2,912.1 |
2,992.7 |
2,930.1 |
2,631.6 |
| Personal interest
income |
|
1,724.8 |
1,640.7 |
1,614.4 |
1,720.4 |
1,702.7 |
1,523.0 |
| Personal dividend
income |
|
1,616.8 |
1,300.7 |
1,297.8 |
1,272.3 |
1,227.5 |
1,108.6 |
|
Personal current transfer receipts |
|
3,910.0 |
4,597.8 |
4,241.1 |
3,171.7 |
2,971.5 |
2,859.7 |
|
Government social benefits to persons |
|
3,838.9 |
4,530.9 |
4,181.3 |
3,117.1 |
2,918.3 |
2,804.0 |
| Old-age,
disability, & health insurance benefits |
|
783.0 |
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 |
|
-1,676.6 |
-1,591.1 |
-1,459.5 |
-1,419.5 |
-1,356.5 |
-1,298.6 |
| Personal current taxes |
|
3,200.7 |
2,582.6 |
2,195.6 |
-2,181.5 |
-2,077.6 |
-2,034.6 |
| Disposable personal
income |
|
-18,605.6 |
-18,494.5 |
-17,432.0 |
16,419.9 |
15,741.5 |
14,796.3 |
| Personal outlays |
|
17,920.7 |
16,226.3 |
14,544.5 |
-15,121.1 |
-14,531.1 |
-13,809.5 |
|
Personal consumption expenditures |
|
5,939.6 |
5,481.4 |
4,653.8 |
14,561.2 |
13,998.7 |
13,321.4 |
| Goods |
|
5,939.6 |
5,481.4 |
4,653.8 |
4,505.3 |
4,364.8 |
4,156.1 |
| Durable
goods |
|
2,184.7 |
2,026.2 |
1,616.4 |
1,526.6 |
1,475.6 |
1,406.5 |
| Nondurable
goods |
|
3,754.9 |
3,455.2 |
3,037.4 |
2,978.6 |
2,889.2 |
2,749.6 |
| Services |
|
11,420.8 |
10,260.1 |
9,393.7 |
10,055.9 |
9,633.9 |
9,165.3 |
|
Personal interest payments |
|
336.6 |
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 % |
|
3.70 % |
12.30 % |
16.60 % |
7.90 % |
7.70 % |
6.70 % |
| Disposable personal
income: |
|
|
|
|
|
|
|
| Total, billions of chained
($) dollars Y 2000 |
|
15,147.0 |
16,007.5 |
15,672.8 |
14,071.2 |
13,729.6 |
13,171.4 |
| Per capita: |
|
|
|
|
|
|
|
| Current dollars ($) |
|
55,773 |
55,671 |
52,800 |
49,980 |
48,075 |
45,390 |
| Chained ($) dollars Y 2000 |
|
45,405 |
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 |
2.4 % |
7.4 % |
6.5 % |
4.4 % |
5.6 % |
4.4 % |
| Compensation of employees,
received |
8.5 % |
8.7 % |
1.1 % |
4.5 % |
5 % |
4.5 % |
| Wage & salary disbursements |
9.1 % |
9.3 % |
1.3 % |
4.6 % |
5 % |
4.6 % |
| Supplements to wages &
salaries |
5.7 % |
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 |
7.9 % |
2.2 % |
2.8 % |
2.8 % |
5.3 % |
5.1 % |
| Personal income receipts
on assets |
4.3 % |
1 % |
-1.9 % |
2.1 % |
9.3 % |
4.6 % |
| Personal interest income |
4 % |
1.6 % |
-2.3 % |
1 % |
9.7 % |
5.7 % |
| Personal dividend income |
4.7 % |
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 |
8.8 % |
9 % |
2.7 % |
4.6 % |
4.4 % |
4.7 % |
| Less: Personal
current taxes |
20.3 % |
17.6 % |
-0.4 % |
5 % |
1.6 % |
4.1 % |
| Equals: Disposable personal
income |
-0.1 % |
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 % |
25.4 % |
6.8 % |
3.5 % |
4.5 % |
4.4 % |
| Nondurable goods |
9.3 % |
13.8 % |
2.4 % |
3.1 % |
5 % |
3.8 % |
| Services |
1 % |
3.1 % |
-0.5 % |
4.4 % |
5.3 % |
4.5 % |
| Based on chained (2000) dollar measures |
|
|
|
|
|
|
| Real disposable personal
income |
9.2 % |
12.1 % |
-2.6 % |
2.9 % |
4 % |
2.6 % |
Source: Department of Commerce, Bea.gov
|
|
