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U . S. D EP A R T M EN T O F CO M M ER CE O F F IC E B U SIN ESS N EW S O F B U S IN E S S E C O N O M IC S R EP O R T S ^ PERSONAL INCOME - April 19 58 OBE FCR RELEASE TO A.M. 'S, TUESDAY, MAY 13, 1958 James W. McNally: 58-34 STerling 3-9200 Ext. 3501 Personal income in April was at a seasonally adjusted annual rate of $343 billion, about $§ billion higher than in March, the Office of Business Economics, U. S. Department of Ccmmerce announced today. The increase in personal income centered in Government transfer payments, which rose by $1 billion at an annual rate. Wage and salary disbursements declined further from March to April, b y $| billion in the aggregate. Other types of income were little changed. 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 b y landlords, and other types of individual income. The annual rates, which are used to facilitate comparison with previous annual totals, represent the season ally adjusted dollar totals for each month multiplied b y 12 . The April rise in transfer payments reflected higher unemployment and old-age benefits, as well as a special dividend paid to World War I veterans who are holders of U. S. Government Life Insurance. These three types of payments accounted in roughly equal proportions for the increase in total transfers. Manufacturing payrolls in April, at an annual rate of $74 billion, were about $3/4 billion below March as employment, particularly in the durable goods industries, continued to decline. Payrolls outside of manufacturing were slightly higher in the aggregate. Details of personal income in April and other recent periods are shown in the following table. (Over) Comm— DC— 7125 O BE TO TA L B U SI N ESS M A N U F A C T U R IN G M A N U F A C T U R E R S ' S A LE S N EW S A N D A N D T R A D E R EP O R T S IN V E N T O R IE S , IN V E N T O R IE S , M o n t h ly M o n t h ly R E G U LA R LY P E R SO N A L C A SH IN C O M E , D IV ID E N D N A T IO N A L A V A I LA B LE — 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 B A LA N C E O F E Q U IP M E N T S U R V E Y , IN T E R N A T IO N A L Q u a r t e r ly P A Y M EN T S, Q u a r t e r ly MONTHLY PERSONAL INCOME IN THE UNITED STATES (Seasonally adjusted annual rates in billions of dollars) April Mar. ... 195.8 _.. 1958 FeETi 1958 April 1957 Mar". 1957 Feb". 1957 ™ First H months 1958 1957 TOTAL PERSONAL INCOME.. .».... . ............ 3U2.8 3ii2.2 3 Ü L.7 3U1.1 31+0 .2 338.5 3 U 2 .6 339.0 Wage and salary disbursements, total.... 233.3 233.8 23k.k 237.1 237.2 235.9 23U.6 2 36 .2 Commodity-producing industries 1 / ..... Distributive industries 1/............ Service industries 1 / .......... . Government............................. 9k.7 63 À 95.1 63.7 95.3 6 U .3 3h.3 ko.7 3k.3 ho. 5 102.3 6 3.0 32 .6 39.3 10 2 .0 6 2 .ii 32.ii 39.1 95.7 6 ii.l 3ii.ii li0 .8 10 2 .ii 62.7 32.9 39.1 iiO .6 10 2 .0 62.5 32.5 39.1 Other labor income....................... 7.7 7.7 7.8 Proprietors and rental income........... 51.3 51.3 5 1. 0 Personal interest income and dividends... 31.8 31.7 Transfer payments 2/.................. 25. k Less personal contributions for social insurance 3/ . .......................... 7.8 3k.3 7.8 7.8 7.8 7.8 51.1 . 51.1 5 1. 0 51.1 5 1. 0 31.8 3 1. 0 30.9 30 .8 31.8 30 .8 2h.h 23.5 20 .8 2 0 .0 19.7 2U . 1 20 .0 6.7 6.7 6 .8 6.7 6 .8 6.7 6 .8 6.7 Total nonagricultural income kj........... 325.8 325. it 325.2 325.3 32U.5 322.7 326 .0 323.3 Total agricultural income....... .......... 17 . 0 16 .8 16.5 15.8 15.7 15.8 16 .6 15.7 1. "Commodity-producing industries" consists of agriculture, forestry and fisheries, mining, contract con struction, and manufacturing. »'Distributive industries" consists of wholesale and retail trade, transporta tion, and communications and public utilities. "Service industries" comprises finance, insurance, and real estate 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. 1;. Equals personal income exclusive of net income of unincorporated farm enterprises, farm wages, agricul tural net interest, and net dividends paid by agricultural corporations.
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