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V f LS. DEPARTMENT OF COMMERCE B U SIN ESS OFFICE OF BUS N EW S Personal Income — ECONOMICS R EP O R T S January 19 6 1 _FOR RELEASE IN FRIDAY A.M. PAPERS. FEBRUARY 17. IQS! Bruce Fowler: WOrth 7-2233 Personal income in January was at a seasonally adjusted annual rate of $4o6-l/3 billion, as compared with $407 billion in December, the Office of Business Economics, U. S. Department of Commerce announced today. The January income total was $10|- billion, or 2\ percent, higher than the same month last year. Wage and salary disbursements declined by nearly $■§■ billion in January to an annual rate of $ 2 7 1 billion, $4 billion below the i 960 mid-year peak. The largest reductions from December to January occurred in manufacturing. The industries most affected were primary and fab ricated metals, electrical and nonelectrical machinery, and transporta tion equipment. Payrolls in other manufacturing industries showed little change. For nonmanufacturing industries as a whole payrolls continued at the December seasonally corrected volume. Other major components of personal income showed little change from December to January. Personal income includes wages and salaries, the net income of proprietorships and partnerships — farm and nonfarm — as well as dividends and interest, net rents received by landlords, and other types of individual income. The annual rates, which are used to facilitate comparison with previous annual totals, represent the sea sonally adjusted dollar totals for each month multiplied by 12 . Details of personal income in January and other recent periods are shown in the following table. (Over) 1 MONTHLY PERSONAL INCOME (Seasonally adjusted annual rates in billions of dollars) Jan. 1961 Dec. I960 Nov. I960 Jan. I960 Dec. 19 59 Nov. 1959 U06.J; 50 6.9 509.0 395.7 393.9 38 8 .7 50 5.2 383.3 271.0 271.1 273.6 26 8 .2 265.0 26 0 .8 2 7 2 .5 258.2 106.9 85.2 72.0 52.1 50.0 10 7 .3 85.6 72.3 5 2 .0 59.8 109.5 86.2 72.5 52.0 59.6 112.6 89.U 69.9 39.5 56.3 110.5 87.6 69.5 39.1 56.1 10 7 .0 85.5 6 9 .1 38 .8 56.0 111. 5 8 8 .0 7 1. 9 5 1. 0 58.2 107.2 85.7 68.2 37.5 55.3 Other labor income 11.0 11.0 11.1 10.6 10 . 5 10.5 11.0 10.1 Proprietors' income: Business and professional Farm 35.5 12.9 3 5 .7 12 . 9 35.9 12.9 35.5 11.3 35.2 12 . 3 35.1 11.2 35.9 12.0 35.7 11.8 Rental income of persons 12.5 12 . 5 12.5 12.5 12.5 12 . 5 12.5 12.5 Dividends 1 U .0 H 4.0 15.1 13.9 13.6 13 . 8 15 . 0 13.5 Personal interest income 2 7 .7 2 7 .7 27.6 2 5 .2 2 5.8 25.5 26 .8 23.5 Transfer payments 1/ 3 1. 0 30 .9 3 0 .5 27.7 27.9 28.2 29 .0 27.0 9.3 9.2 9.2 9.2 8.0 7.9 9.3 7.8 389.5 390.1 392.1 380.2 377.5 373.5 3 8 8 .1 367.6 16.3 16.8 16.9 15.5 16.5 15 . 2 16 . 1 15.7 TOTAL PERSONAL INCOME Wage and salary disbursements, total Commodity-producing industries Manufacturing only Distributive industries Service industries Government Less: Personal contributions for social insurance Total nonagricultural income 2/ Total agricultural income Fuir year i 960 1959 1. Consist mainly of social insurance benefits and veterans’ payments. 2. Equals personal income exclusive of net income of unincorporated farm enterprises, farm wages, agricultural net interest, and net dividends paid by agricultural corporations. NOTE; These figures have not been adjusted to include Alaska and Hawaii. USCOMM— DC
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