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Pc OF O FFICE U . S . D EP A R T M EN T O F CO M M ER CE B U SIN ESS E C O N O M I C S B U SI N ESS N E W S R EP O R T S PERSONAL INCOME - February 1957 O B E 57-28 FOR RELEASE TO A.M.!S, FRIDAY, APRIL 5, 1957 Marilyn J. Young: STerling 3-9200 Ext. 2222 Personal Income in February was at a seasonally adjusted annual rate of $336-|- billion, $l|- billion higher than in January, the Office of Business Economies, U. S. Department of Commerce announced today. Private wage and salary disbursements rose by ¡¡>1 billion in February. Government payrolls, nonfarm proprietors' income, and transfer payments con tinued upward trends. Other components of personal income remained steady. Personal income in the first two months of 1957 was at an annual rate of billion, $19 billion, or 6 percent, higher than in the first two months of 1956. $3 3 6 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 totalst represent the seasonally adjusted dollar totals for each month multiplied by 12. The rise of $1 billion in private industry payrolls in February followed a decline of $■§■ billion in January, when seasonally adjusted employment fell off slightly and average hours worked per week were reduced. In February, seasonally adjusted employment advanced beyond the previous peak in December, hours were up a little from January, and wage rates continued to rise. The bulk of the payroll rise in February occurred in nonmanufacturing industries. Manufacturing payrolls also increased, as higher average weekly earnings more than offset a further decline in employment in that industry. Details of personal income in February and other recent periods are shown in the following table. (Over) Comm-— DC— -8518 O B E B U SI N ESS N E W S R EP O R TS R EGU L A R L Y A V A IL A B L E — TO TA L M A N U FA CT U R IN G W H O LESA LER S' SA LES M A N U FA CTU R ER S' A N D A N D SA LES TR A D E IN V E N T O R IE S , M o n t h ly IN V E N T O R IE S , M o n t h ly A N D 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 IN C O M E PLA N T M o n t h ly P A Y M E N T S , A N D 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 EIG N G R A N TS B A LA N CE O F A N D S U R V E Y , Q u a r t e r ly 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 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) Feb. 1957 Total personal income...... .......... Wage and salary disbursements, total....... Commodity-producing industries l/........ Distributive industries I/............... ... Service industries l/.......... ....... Government.................... 61.6 Other labor income............ .......... Proprietors8 and rental income....... .... Personal interest income and dividends..... Transfer payments 2/.... ............... Less personal contributions for social insurance ¿/............. .... ..... . Total nonagricultural income lj/.............. Jan. 1957 Dec. 1956 Feb. 1956 Jan. 1956 Dec. 1955 335.0 33U.0 317.1 316.7 317.5 335.9 316.9 232.7 101.2 61.5 31.3 38.7 232.9 102.3 60.9 31.3 38.ii 218.9 9U.7 57.9 29.5 219.0 9ii.8 57.9 29.5 2 18 . 2 233.3 101.6 61.6 31.lt 36 .8 36 .8 219.0 9U.8 57.9 29.5 36.8 7.5 51.3 19.6 7.1i 51.2 29.2 19.3 7.2 ii9.7 28.7 18.3 7.3 U9.ii 28.5 18.2 6.7 6.0 5.7 5.7 319.7 318.8 301.5 301.6 15.3 15.2 15.6 15.1 3 0 .6 9li.5 57.6 2 9 .U 36.7 Two months 1956 ' Ï95T 38 .8 7.3 ii9.2 30.2 7.5 5l.li 18 . 0 19.8 7.3 ii9.5 28.6 18.2 6.7 5.7 30 .6 1 f Total agricultural income........ . 5.1+ 30 2 .8 ill.7 320.6 15.3 3 0 1. 6 15.3 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. V Equals personal income exclusive of net income of unincorporated farm enterprises, farm wages, agricultural net Interest, and net dividends paid by agricultural corporations. - 0 - ♦ «
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