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U. S. DEPARTMENT OF COMMERCE • O FFIC E BUSINESS O F EC O N O M IC S B U SI N ESS N E W S R EP O R T S PERSONAL INCOME - April 19 5 6 FOR IMMEDIATE RELEASE, TUESDAY, JUNE 5, 1956 OBE 56-41 Personal income in April was at an annual rate of $317 billion, almost $2 billion higher than in March, the Office of Business Economics, U. S. Department of Commerce announced today. The rise in personal income from March to April was approxi mately the same as that from February to March. In each month wage and salary disbursements increased by over $1 billion. Dividends and interest, transfer payments, and proprietors’ income also rose by approximately the same amounts in April as in March. Personal income estimates include 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 seasonally adjusted dollar totals multiplied by 12. Two-thirds of the April rise in wages and salaries took place in manufacturing industries, a higher proportion than in the pre vious month. Higher hourly earnings was the main factor in the manufacturing payroll advance, but increased employment was also important. Private nonmanufacturing payrolls, which have risen steadily this year, continued to advance in April. Details of personal income in March and other recent periods are shown in the following table. (OVER) B U S I N E S S N E W S R EP O R T S R EG U L A R L Y A V A I L A B L E TO TA L M A N U F A C T U R IN G W H O LE S A LE R S ' SA LE S M A N U FA C T U R E R S ' A N D A N D S A L E S T R A D E IN V E N T O R IE S , IN V E N T O R IE S , A N D M o n t h ly M o n t h ly IN V E N T O R IE S , M o n t h ly P E R S O N A L C A SH IN C O M E , D IV ID E N D N A T IO N A L M o n t h ly P A Y M EN T S, IN C O M E A N D P LA N T M o n t h ly P R O D U C T , Q u a r t e r ly A N D E Q U IP M E N T FO R E IG N G R A N T S B A LA N C E O F A N D S U R V E Y , C R E D IT S , IN T E R N A T IO N A L Q u a r t e r ly Q u a r t e r ly P A Y M E N T S , Q u a r t e r ly MONTHLY PERSONAL INCOME IN TEE UNITED STATES (Seasonally adjusted annual rates in billions of dollars) Distributiv® industries ...................... «• Proprietors' and rental income....................... Personal interest income and dividends.......... ...» Less personal contributions for social insurance ¿ / . . Total nonagricultural income ¿ / . ...... .............. . Feb. First four months Full 1956 year _19SS_« j m i 293.2 314.6 294.9 303.2 202.6 87,8 53.6 27.0 34.2 200.3 86.3 53.0 26.7 34.3 217,2 94.4 57.6 28.8 36.4 201.7 87.1 53.3 26,9 34.4 208.5 90.5 55.1 27.6 35.3 6.9 49.0 25.9 17.6 5.1 6.8 48.5 25.5 17,4 5.1 6.8 48.8 25.3 17.0 5,0 7.2 49.4 28.6 17,9 5.7 6.8 48,9 25.4 17.2 5.1 7,0 48*9 2b*8 17.2 5 299.0 283.7 280.9 277.7 300.3 279.7 288.4 14.3 15.2 14.8 15.5 14.3 15,2 14.8 March April 1955 1215 April 1956 March 1956 Feb. 1956 317.1 315.2 313.3 298.9 295.7 218.7 95.3 58.1 28.9 36.A 217.5 94.4 57,7 28.9 36.5 216,3 94.0 57.3 28.7 36.3 2 0 4 .6 88.9 53.6 27.2 34.9 7.3 49.6 29.0 18.2 5.7 7.3 49.4 28.7 18.0 5.7 7.2 49.3 28.4 17.8 5.7 302.5 301.1 14.6 14.1 , 1 / »Commodity-producing industries" consists of agriculture, forestry and fisheries, mining, contract construction, and manufacturing. "Distributive industries" consists of wholesale and retail trade, transportation, and communi cations and public utilities® "Service industries" comprises finance, insurance, and real ©state and services, 2/ Consists mainly of veterans® payments and social insurance benefits. 3 / Data since January of 1952 represent contributions of both employees and self-employed persons. y Equals personal income exclusive of net income of unincorporated farm enterprises, farm wages, agricultural net interest, and net dividends paid by agricultural corporations®
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