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U. $. DEPARTMENT OF C O M OFFICE OF M ER CE B U S IN E S S N EW S B U S IN E S S E C O N O M IC S REPO RTS • PERSONAL INCOME - August 1957 FOR IMMEDIATE RELEASE, TUESDAY, SEPTEMBER 17, 1957 °~BE 57-83 Marilyn J. Young: STerling 3-9200 Ext. 2222 Personal income in August was at a seasonally adjusted annual rate of billion, $1 billion higher than in July, the Office of Business Economics, U. S. Department of Commerce announced^jtoday^______________ ■ 1 ' *Pt T? M ® s£j Payrolls continued to rise from July to August in most private in dustries and in government. Somewhat lower disbursements in manufacturing, construction, and mining, however, limited the overall increase. Personal income estimates include wages and salaries, the net income of proprietorships and partnerships — farm and nonfarm -- as well as divi dends and interest, net rents received by landlords, and other types of individual income. The annual rates, which are used to facilitate compari son with previous annual totals represent the seasonally adjusted dollar totals for each month multiplied by 12. The annual rate of personal income in August, the middle month of the third quarter, was $5 billion above that of the second quarter of this year. About two-thirds of this gain took place in wages and salaries in nonmanu facturing industries where, in general, both employment and wage rates con tinued to advance. Payrolls in manufacturing remained unchanged, as de clining employment and hours offset the effects of rising wage rates. Nonfarm proprietors' income was at a higher rate in August than in the second quarter, reflecting larger sales in retail trade and the services. Farm proprietors' income also moved up, with the rise stemming largely from higher livestock prices. Details of personal inccme in August and other recent periods are shown in the following table. (Over) Comm— DC— 6644 O BE T O T A L W B U SI N E SS 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 — M A N U F A C T U R IN G H O L E S A L E R S ’ ..a. S A L E S i i i c p t i i d c d c c ai A N D T R A D E IN V E N T O R IE S , A N D IN V E N T O R IE S , c n <5 i u M o n t h ly M o n t h ly in v f n t c r if s M o n t h ly P E R S O N A L C A S H IN C O M D IV ID E N D N A T IO N A L IN C O M E , M o n t h ly P A Y M E E N T S , A N D P L A 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 F O R E IG N B A L A N C E E Q U IP M G R A N T S O F E N T 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 THE UNITED STATES (Seasonally adjusted annual rates in billions of dollars) First eight months 1956 1957 Full year 1956 31*1.9 323.2 326.9 227.3 238.2 22lt.lt 227.2 96.3 6 0 .2 31.2 38.0 98.1 60.3 31.0 37.9 102.1* 63.1* 32.9 39.5 96.8 59.5 30 .6 37.5 98.3 6 0 .1 31.1 37.9 7.6 7.5 7.5 7.8 7.1* 7.5 51.6 50.1 it9.9 1*9.7 50.9 1*9.6 1*9.9 31.5 31.lt 29.9 29.7 29.5 31.1 29.2 29.5 21.2 21.3 18.7 18.5 18.5 20.7 18.2 18.5 6.9 6.9 5.8 5.7 5.7 6.8 5.7 5 7 331.3 330.5 31U.1 310.7 312.0 326.5 308.2 311.7 16.0 15.7 15.2 lit.9 lit.8 15.1* 15.0 15.2 July 1957 Aug. 1956 July 1956 June 1956 3l*7.3 3U6.2 329.3 325.6 326.8 21*1.5 21*0.9 228.8 225.7 102.7 103.0 1* 0 . 0 98.6 60.5 31.5 38.2 8.0 7.9 Proprietors* and rental income.......... 52.0 Personal interest income and dividends..... . Transfer payments 2/...... Aug. _________________________________________________________ 1957 TOTAL PERSONAL INCOME....... Wage and salary disbursements, total...... .......... Commodity-producing industries l/......... Distributive industries 1/........... 65.0 33.6 1|0.2 Service industries l/........... Government..................... .................. Other labor income...... ....................... . Less personal contributions for social insurance 3/.. Total nonagricultural income I*/.....»..... Total agricultural income................. «........... 61*.5 33.U 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 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. k/ Equals personal income exclusive of net income of unincorporated farm enterprises, farm wages, agricultural net interest, and net dividends paid by agricultural corporations. - 0 - i to I
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