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/ 4, Cl A / IJ,. S, DEPARTMENT OF COMMERCE \ J X A -a OFFICE FFÊC OF BUSINESS ECONOMICS BUSINESS NEWS REPORTS * PERSONAL INCOME , MAY 1950 FOR RELEASE - Immediate, Friday, July 14, 1950 nuTir 1 ........................-| r • HUMB— MB— BHMM— — BH8— M—— — — MBWMM— f BSNB aMfcICCggWfftaMgWJanMBWMgl—WMMBMMBMBBHW— I— — M Him11 ■ mil I«11 EOT — — — — MBM— I— WWWBB— BH—BM— — IKgI— ■ i'i II O B E - 385 I Ill IhI mIIlllilHH« ll«l»IIHII ■ M M M m aW d W W M M MM I IB»— MMOMMnMMP— B— a— —e ra— Q—1C»3B Personal income in M a y - o t h e r than the special insurance dividend pay ments to veterans-— -was at an annual rate of $212.2 billion compared with $209.7 billion for April, the Office of Business Economics, Ü. S. Department of Coromerce, announced today. The Department's series measuring total personal income, which includes disbursements from the National Service Life Insurance Fund, declined slightly in May to an annual rate of $213.3 billion from $213.8 billion in the previous month. The N.S.L.I. dividend payments declined in May to $95 million from a total of $345 million in April. Expressed at annual rates to make them comparable with other personal in come data, the payments amounted to $1.1 billion in M a y a s against $4.1 bil lion in April. By the end of May almost 95 percent of the $2.8 billion veter ans' dividend had actually been paid out. The April-May rise of $2.5 billion in personal income, exclusive of the special payments to veterans, reflected expansions in pay rolls and proprie tors ' income. Personal income estimates include wage and salary receipts, the net in comes 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 comparison with previous annual totals, represent the seasonally adjusted dollar totals for each month multiplied by 12. Total wage and salary disbursements in May rose tc an annual rate of $139.2 billion, higher than in any previous month. Most of the $1.1 billion increase over April occurred in the durable-goods manufacturing industries, where the settlement of a labor management dispute in the automobile industry accounted for part of the substantial pay roll rise. Pay rolls in nondurablegoods manufacturing industries and in contract construction also increased from April to May. Income of proprietors, including both farm and nonfarm, increased about $1.7 billion at an annual rate from April to May. The rise in farm proprie tors' income, $1.1 billion, reflected larger receipts from livestock market ings. Both higher prices and an expanded volume of marketings were contrib uting factors. The rise in nonagricultural proprietors' income reflected ,primarily increased retail sales. A BUSINESS NEWS REPORTS REGULARLY AVAILABLE; BUSINESS INVENTORIES, Mont hly CASH DIVIDEND PAYMENTS, Mont hly WHOLESALERS’ SALES AND INVENTORIES, Mont hly — 10010 RETAIL STORE SALES, Mont hly PUNT AND EQUIPMENT SURVEY, Quarterly BALANCE OF INTERNATIONAL PAYMENTS, Quarterly JPE8S0NAL INCOME, Mont hly CHAIN STORE AND MAIL ORDER SALES, Mont hly MANUFACTURERS’ SALES AND INVENTORIES, Monthly, V tZ, * Details of the personal income estimates for April and May 1950 and for other recent periods are shown in the following table. The data for April 1950 and earlier periods represent revisions of previously published esti mates. Complete data on a revised basis, beginning with 1946, on personal income and related series on national income and gross national product will appear in the July 1950 Survey of Current Business, official monthly magssine of the Office of Business Economies. * i » ■10010 f P Monthly Personal Income in the United States First fivemonths 1950 1949 Full year 1949 May 1950 April 1950 March 1950 Feb. 1950 «J3.11 » 1950 May 1949 Total personal income . . . . . . . . . . . . . . . . . . . . . . 213.3 Wage and salary receipts ..... — ......... 136.4 Total employer disbursements ........... 139.2 Commodity-producing industries!/ ..... 60.3 39.5 Distributive industries!/ . . . . . . . . . . . . 18.3 Service industries!/ ................. 21.1 Government ...................... . Less employee contributions for social insurance .................. ......... 2.8 3.4 Other labor income ....................... Proprietors1 and rental income ........... 41.5 Personal interest income and dividends ... 17.9 14.1 Transfer payments2/ ...................... 213.8 135.3 138.1 59.1 39.7 18.2 21 ©1 219.3 133.6 136.4 ' 57.7 39.6 18.1 21.0 215.4 131.5 134.2 55.8 39.3 .18.1 21.0 214.6 132.2 135.0 56.7 39.5 17.9 20.9 207,6 132.7 134.9 57.1 40.1 17.6 20.4 215.2 133.7 136.5 57.9 39.5 18.1 21.0 208.0 132,8 135.0 58.3 39.5 17.2 20.0 206.1 132.0 134.2 57.0 39.4 2.8 3.3 39.8 2.7 3.0 41.0 17.7 22.2 2.8 3.0 43.5 17.5 18.4 2.2 2.9 42.6 17.1 12.3 2.8 3.2 41.2 17.9 19.2 2.2 2.8 43.2 17.2 12.0 2.2 2.9 18.2 17.2 2.8 3.3 40.2 18.0 24.2 41.7 17.2 12.3 Total nonagricultural income3/ ............. 197.2 Total agricultural income .................. 16.1 198.7 15.1 203.7 15.6 199.0 16.4 195.2 19.4 188.7 18.9 198,8 16.4 189.0 19.0 188.2 17.9 Æo .i! \o ro ■10010 (Seasonally adjusted annual rates in billions of dollars) 1/ "Commodity-producing industries" consists of agriculture,. forestry and fisheries, mining, contract construction, and manufacturing. "Distributive industries" consists of wholesale and retail trade, trans portation, 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, including the National Service Life Insurance dividend. 3/ Equals personal income exclusive of net income of unincorporated farm enterprises, farm wages, agri cultural net rents, agricultural net interest, and net dividends paid by agricultural corporations. ¿-t/, t-j 8 03 ?
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