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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 O F B U SIN ESS E C O N O M IC S B U S I N E SS N E W S R E P O R T S KBRSOHAL INCOME - December 1956 and Total Year FOR IMMEDIATE RELEASE, WEDNESDAY, FEBRUARY 6, 1957 Selma F. Goldsmith: , °'BE 57-12 STerling 3-9200 Ext. 2233 I i Personal income in December was at an annual rate of $333^ billion, un changed from November, the Office of Business Economics, U. S* Department of Commerce announced today. Wage and salary disbursements advanced by $1§ billion in December, in line with recent months. The increase was equally divided among transporta tion equipment manufacturing, other manufacturing, and non-manufacturing in dustries. Interest and transfer payments were also higher. These gains were offset, however, by a decline in dividend receipts reflecting a smaller than usual volume of year-end extra and special payments, and by a reduction in farm proprietors* income. This reduction was attributable to a further drop in soil bank payments from the large outlays made at the initiation of the program. 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 for each month multiplied by 12. The year as a whole For the full year 1956, personal income amounted to $325 billion, $19 bil lion, or 6 percent, higher than in 1955« f Increases ranging from 6-| to 8J percent took place in wages and salaries, nonfarm business income, interest, dividends, and transfer payments. Farm pro prietors* Income was essentially unchanged from 1955 to 1956, after declining in the previous four years. Rental income was fractionally lower in 1956. s i The rise in the large wage and salary component over 1955 amounted to $15 billion, or 7 percent. Payrolls in private industries outside of manu facturing increased by 8 percent, manufacturing payrolls by 7 percent, and government payrolls by percent. (Over) Comm— DC— 8394 B U S I N E S S N E W S R E P O R T S R E G U LA R LY A V A I LA B LE — 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 A N D A N D M A N U FA C T U R E R S ' 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 S H 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 F O 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 THE UNITED STATES (Seasonally adjusted annual rates in billions of dollars) Dec. 1956 Total personal income®e- n ___ r,,t Wage and salary disbursements * total»_____ ____T11 Comodi'ty-producine industries 1 T , T T, r Distributive industries 1 / 5 T.T, T „ r Service industries l / . ,,,,,,,n Government. Other labor income». Proprietors* and rental income.......»T»Tt,t0c 0 Personal interest income and dividends Transfer payments 2 /.. Less personal contributions for social insurance J/ Total nonagrieultural income 4/,,. *TT.. TrTc,, Total agricultural income. ............. rr. Z / Î o ïïL I f^ 10 Nov. 1956 Oct. 1956 300 Ef O"so £ ooo n Dec® 1955 Nov. 1955 Oct. 1955 317.5 314.5 311.6 325.2 306.1 OT ft O ¿.xo©£ 94.5 57.6 ¿9.4 2 17 . 2 94.2 57.3 29.3 3o.7 jQ*h 215.3 93.3 56.7 28.9 36.4 225.1 97.7 59.5 30.3 37.6 210.4 90.9 55.4 28.2 35.9 49.0 7.2 49.1 27.9 17.4 5.3 7.3 50.5 29.4 18.7 5.8 7.0 49.1 27.3 17 . 6 5.2 232.5 otj n 10 2 . 1 10 1. 1 6 0 .9 6 0 .6 rip PI 1 J>X©X QP *3 OP o 10 0 .6 6 0 .2 on o *30 n JO.U 7 j. i.*+ £1 7 i.4 Co o 2*-0 7o !,n o 49.2 i ft n xO*/ 30.2 30.2 xo«u 6 .0 5.4 28.1 17.7 5.3 7f®q)i 51.2 29.2 30.3 IQ ®x 1 xy 19.2 7.2 P u n year isrô 6 .0 6 .0 318.3 317.9 316.3 302.8 299.4 296.9 310.0 290.9 15.2 15.6 16 . 2 14.7 15.1 14.7 15 . 2 15 . 2 ï tiX î t ia8 % "Se m f 2^C°nsisi.s mâ.üîly of veterans • payments and social insurance benefits. s t r ie s «com pr i sse f i n a n c e , i n 3/Data since January of 1952 represent contributions of both employees and self-employed persons î k t ï S P» T n5 Î T T 0f net lj*0OTe of « n i œ o r p o r a t e d ^ a r m enterprises, L i a g e s , agricultural net interest* and net dividends paid by agricultural corporations. ' ë * ë v ai ner - 0 - V s u ^ l S
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