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fc. U . S . D EP A R T M EN T O F CO M M ER CE O FFICE 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 PERSONAL INC (ME - November 1955 FOR IMMEDIATE RELEASE, FRIDAY, JANUARY 6, 1956 O BE 5 6 -1 Personal income in November was at an annual rate of $3 11§ billion, about $2 billion higher than in October, the Office of Business Economics, U. S. D e partment of Commerce, announced today. The bulk of the October-November rise was in private industry wage and salary disbursements. Most other types of income rose moderately. Personal income estimates include wages and salaries, the net income of ?i2Pi,i+ t 0 rSi i P8 PartnershiP s farm and nonfarm - - a s 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 premorth m X p l S aS ’iI?PreSent the seasonallr a i ->“ a t e '1 totals for each Private wages and salaries were at an annual rate of $17 9 billion in November, about *1-3/* billion higher than in October. Oni-half of the rise took place in the auto industry, where there were increases in both employ? n d i s ? r i e « ° ^ L VOi ? d * t f0Urth °f the P a^ 0 11 rise occurred in manufacturing + a t ^ autos^ and accounted for by advancing wage rates and ployment. Among these industries, the largest gains were in primary metals w i L i r s cscattered a t i e i e d among amoChinery‘ ^ remainder of the Private payroll rise was widely nonmanufaeturing industries. The annual rate of transfer payments increased by about billion in November, largely because of an increase in educational benefits paid to Korean veterans under Public Law 550. A larger number of veterans are taking month tfreflJct the Sef00l.year than last> and November was the first month to reflect the higher level of government disbursements. of 8i elSVen °nthS 19 55 was at period an annual rate Oi ¿302rbil^ioinC^ ?30 2 billion, $15 billion fS higher than min the °f corresponding of iQqk Details for other recent periods are shown In the following t e S e " 5 (OVER) 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 T O T A L M A N U F A C T U R IN G W H O L E S A L E R S ' S A L E S M A N U F A C T U R E R S ' A N D A N D 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 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 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 FO 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) Nov. Nov, Oct « Sept. 1955 1955 1911.„ J â â L Oct. Sept. First eleven months Full year - j a s L - j a s L . . 1254 287,0 287.6 311.4 309.2 307.9 290.8 288.4 287.9 301.9 Wage and salary disbursements, total.................. Conaaodity-producing industries l/....... . Distributive industries l/..................... . Service industries l/............................... 215.0 94.1 56.6 28.4 35.9 213.3 212.4 198.6 196.8 195.8 207.8 195.9 196.2 84.2 82.8 90,2 84.1 85.2 92.8 92.2 83.4 Other labor income »...................... Proprietors * and rental income........................ Personal interest income and dividends................ Transfer payments 2/............................... . Less personal contributions for social insurance j/... Total personal income........ «•••••«.••o.... ..... . Total nonagricultural inc«® Total agricultural income.... ........................ 34.3 52.7 26.5 34.2 52.5 26.3 34.2 54*9 27.5 35,2 52.2 25,8 33.8 52.3 25,9 33.8 7.1 49.7 27.1 16.9 5.3 6.7 48.3 24.9 16.8 4.5 6.7 47.5 24.9 17.0 4.5 6.6 49.0 24.7 16.3 4.5 6.9 49.0 26.3 17.1 5.2 6.6 48.4 24.5 16.1 4© 5 6.6 294.4 293,0 275.9 273.8 272.1 287.2 271.3 271,9 14.Ê 14.9 14.9 H.6 15.8 14.7 15.7 15.7 52.5 56.4 28.2 35.9 56.4 28.0 35.8 26.6 7.1 49.9 27.6 17.1 5.3 7.1 49.8 27.4 16.9 5.3 296.4 15.0 48.4 24,7 16.2 4.5 1/ "Commodity-producing industries" consists of agriculture, forestry and fisheries, saining, contract construction, «wd 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. 2,/ Data since January of 1952 represent contributions of both employees and self-employed persons. £/ Equals personal income exclusive of net income of unincorporated farm enterprises, farm wages, agricultural net interest, and net dividends paid by agricultural corporations.
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