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OFFICE OF BUSINESS ECONOM ICS
U. S. DEPARTMENT OF COM M ERCE
B U SIN E SS
P ER SON A L
FOR
N EW S
IN COM E —
REPO RTS
FEB R UA R Y 1 9 6 4
IMMEDIATE RELEASE
OBE
■
F.
o f
B e a t ric e
Co le m a n :
W Ort h
P e rso n a l
in c o m e
Fe b ru a ry
$ 4 7 8 .3
b illio n ,
In c o m e
with
the
fro m
D e p a r t m e n t 's
la rg e ly
a ll
W ages
and
s t a n t ia lly
sh o rt
o f
and
n oted
a ls o
fo r
M a n u f a c t u rin g
g a in s
a ll
in d u s t rie s .
som ew h a t
as
Co n tra ct
e m p lo ym e n t
Th e
fro m
in
o f
a ge
Oth er
e lim in a t io n
fro m
the
p a id
in
d iv id e n d
a m in o r
$2
fro m
Ja n u a r y
and
re c e n t
Ja n u a r y ;
fo r
the
in
s e rv ic e
in
the
w a s,
o f
p e rso n a l
the
in c o m e
m onth.
to
in
lin e
to
to ta l
Fe b ru a ry,
w h ic h
ce n te re d
ra te
in c re a s e
Fe b ru a ry
Ja n u a r y
s lig h t ly
about
a c c o rd in g
in c re a s e ,
a d va n ce
d e c lin e d
m o st
in c re a s e
b illio n
a d va n ce d
H o u rly
by the
e a rn in g s
was
the
a
su b
lit t le
c o m m o d it y-
Ja n u a r y .
in d u s t rie s
P a y ro lls
in
the
in
h o u rs
d ro p
in
and
S m a ll
and
g a in s
fo r
Sta te
o f
lit t le
w it h
the
and e le c t r ic a l
b illio n
m onth
ch an ged
w e re
at
an
bad
fro m
o ff
in
annual
w eather
re f le c t e d
m ade
about
w e re
e m p lo ym e n t .
u n u s u a lly
p a ym e n t
p a ym e n t s
in d u s t ry
in
la rg e s t
m a c h in e ry
ra te
in
p rin c ip a lly
Ja n u a r y .
Ja n u a r y
o ffse t
as
as
Ja n u a r y .
the
A p a rt
in c re a s e s
by
re d u ce d
th e
Ja n u a r y
b e n e fit s .
p e rso n a l
and
w e re
in c re a s e s ,
a ris e
ris e
fro m
m onth.
$3/ 4
la s t
t h is
la s t
e q u ip m e n t
the
d iv id e n d
b e n e fit s
in c re a s e s
in t e re s t
up
o f
o f
st em m ed
ch an ge
m e t a ls ,
o ffse t
w e re
e ffe cts
ve te ra n s'
p a ym e n t s
in s u ra n c e
sm a ll
the
b a la n c e
lit t le
t ra n s p o rt a t io n
w o rk e d
T w o -t h i r d s
the
sh ow ed
t r a n s f e r p a ym e n t s
s u rv iv o rs
and
t e x t ile ,
p a y ro lls
fro m
s p e c ia l
tra n sfe r
b illio n .
sh ow ed
in d u s t rie s
a p p a re l,
a d e c lin e
the
$3/ 4
w o rk e d p e r w eek
m a n u f a c t u rin g
typ e s
w e re
e a rn in g s ,
Th e
re ce n t
had
su m m e r,
annual
to d a y.
$2 b i l l i o n ,
la s t
Ec o n o m ic s .
o n ly
m ost
a d ju s t e d
a nn oun ced
ro se
sin c e
d is t rib u t io n
c o n s t ru c t io n
u n e m p lo ym e n t
Th e re
Th e
h o u rs
re co ve re d
sh a rp
t h is ,
o ld
a c t iv it y
o ve r
w h ic h
s e a s o n a lly
Co m m e rc e
Decem ber t o
p a y ro lls
in
re g is t e re d
a b se n ce
ro se
the
e m p lo ym e n t .
A lm o st
g a in s
the
a
g o ve rn m e n ts.
re f le c t e d
h ig h e r
o f
in s u ra n c e
the
in d u s t rie s
lo c a l
by
sh o w e d
s a la rie s
b e t t e rin g
at
o b t a in in g
B u sin e s s
ve te ra n s'
$1 b i l l i o n .
p ro d u c in g
w e re
o f
thu s
was
e c o n o m ic
o ffse t
so u rce s
7 -4 4 3 0
D e p a rtm e n t
in c re a s e
O f f ic e
n o n -r e c u r r i n g
fro m
the
cu rre n t
a ve ra g e
h o w e ve r,
in
64_ 16
.......
re n t
in c o m e
in
sh o w ed
lit t le
su p p le m e n t a ry
and
a
s m a ll
ch a n ge
la b o r
d e c lin e
(O v e r )
in
fro m
in c o m e ,
fa rm
n o n fa rm
fig u re .
p ro p rie t o rs '
p ro p rie t o rs '
in c o m e .
2
P e rso n a l
ye a r:
t h is
c a t e g o rie s ,
P e rso n a l
s h i p s - -f a r m
in d iv id u a l
in c o m e
was
a ve ra g e d
5 -1 / 2
oth er
in c o m e
$478
p e rce n t
than
fa rm
in c lu d e s
the
w ages
and
a n d n o n f a r m --d i v i d e n d s ,
in c o m e .
Th e
d u rin g
annual
s a la rie s ,
w h ic h
re p re se n t
12.
D e t a i l s o f p e r s o n a l in c o m e
th e f o llo w in g t a b le :
in
e a rn in g s ,
in t e re s t ,
ra te s,
the
f ir s t
sa m e p e r i o d
p ro p rie t o rs ®
w it h p re vio u s a n n u a l t o t a l s ,
f o r ea ch m onth m u lt ip lie d b y
in
b illio n
a b o ve
the
Fe b ru a ry
a re
sh a re d
the
net
tw o
a ye a r
net
to
in
and
and
oth er
o f
f a c ilit a t e
re ce n t
t h is
in c o m e
a d va n ce .
oth er
s e a s o n a l l y -a d j u s t e d
o f
A ll
t h is
in c o m e
re n ts,
u sed
m onths
ago.
p ro p rie t o rtyp e s
d o lla r
p e rio d s
of
c o m p a ris o n
t o t a ls
a re
sh o w n
MONTHLY PERSONAL INCOMS IN THE UNITED STATES
(Seasonally adjusted annual rates in billions of dollars)
Feb.
1964
TOTAL PERSONAL INCOME
Wage and salary disbursements, total
Commodity-producing industries
Manufacturing only
Distributive industries
Service industries
Government
4 7 6 .0
452.9
4 5 4 .0
4 5 2
323.8
3 2 1. 7
3 2 0 .8
304.7
3 0 2 .8
3 0 2 .9
12 6 . 9
12 7 .2
12 0 .1
10 1.1
10 1.1
8 1. 7
8 1. 3
II9 . 5
94.7
77-9
47.8
57- 6
II9 . 6
94.9
78.4
47.7
57-3
128.3
101.3
8 1. 9
Dec.
Feb.
Jan.
Dec.
19 6 3
19 6 3
19 6 3
19 6 2
*(450.4)
O.8
I. 6
95-5
7 8 .6
.I
Full year
19 6 3
19 6 2
463.0
442.1
312.3
2 9 7
12 3 . 8
9 8
.3
.I
118.5
94.2
7 9 .8
7 6 .6
4-9.5
59-3
46.4
55.6
12 . 6
12 . 1
51.1
5 0 .9
5
6 2 .5
6 2 .2
6
12 . 9
12 .8
12 . 8
12 . 5
12 . 3
12.4
38.5
38.4
37-2
3 7
12 . 0
12 .2
38.4
12.5
37.0
I3 . 5
37.7
36.5
13 .5
.I
13.6
12 . 8
13 .3
■12.3
12 .2
12 .2
12 . 0
12 . 0
12 . 0
12 . 1
12 . 0
I9 .O
I9 .O
I9
17 .2
17 . 0
I7
17 . 8
I6
Personal interest income
34.3
I. 3
32.5
3 0 .0
Transfer payments 1/
37-9
34.1
*(37.9)
39-9
35.7
36.9
34.8
Less: Personal contributions for social
insurance
12.4
10.3
11.8
10 .2
445.7
424.5
Other labor income
Proprietors* income:
Business and professional
Farm
Rental income of persons
Dividends
Total nonagricultural income 2/
Total agricultural income
1.
2.
4 7 8 .3
Jan.
1964
*(476.1)
4 7 8 .I
48.3
57-8
?
462.1
12 .3
.8
33.8
3 1.7
37.7
35-7
12 . 1
11.5
*(^59*5)
h6l.6
459.2
434.9
31.5
*(35.5)
39.1
11.4
*(432.3)
435.9
3
4 34
.7
.I
.6
I6 . 8
___ 1 6 . 5
18 . 0
18 .1
18 . 0
17.3
- 17 . . . . 6
Consist mainly of social insurance benefits and veterans' payments.
Equals personal income exclusive of net income of unincorporated farm enterprises, fauna wages, agricultural net
interest, and net dividends paid by agricultural rairnira+.i™«
16 . 2
*
Figures in parentheses for Jainuary 1964 exclude stepped-up rate of Government life insurance dividend
payments to veterans in the amount of $2 . 1 billion ( $ 1 7 2 million multiplied by 1 2 to put on annual rate basis).
Figures in parenthesis for January 19 6 3 exclude stepped-up rate of Government life insurance dividend payments
to veterans and a special dividend to all WW II veterans holding NSLI policies in the amount of $3.6 billion
{ $ 2 9 8 million multiplied by 1 2 to put on annual rate basis).
@FedFRASER