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{ C ~
U . S.
D EP A R T M EN T
O F
C O M M ER CE
O FFICE
B U S IN E S S
N EW S
O F
B U S IN E S S
E C O N O M IC S
REPO RTS
•
PERSONAL INCOME - November 1956
FOR IMMEDIATE RELEASE, FRIDAY, JANUARY
Selma F. Goldsmith:
OBE 57-2
4, 1957
ST 3 9200
Ext. 2233
Personal income in November was at an annual rate of $333i billion, $1 bil
lion higher than in October, the Office of Business Economics, U. S. Department
of Commerce announced today.
The November rise in the personal income total was equal to the rise in
wage and salary disbursements. Nonfarm proprietors’ income, investment income,
and transfer payments together increased by about $|- billion, while farm pro
prietors’ income fell by roughly the same amount, reflecting the decline in
soil bank payments from the high October rate.
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 pre
vious annual totals, represent the seasonally adjusted dollar totals for each
month multiplied by 12.
Of the $1 billion increase in wages and salaries in November, almost
$3A billion occurred in the automobile industry alone, as production of 19 5 7
models was sharply increased. Payrolls also rose in trade, services, and
finance. They were roughly stable in mining, construction, transportation,
and utilities. In manufacturing, outside of automobiles, payrolls were some
what lower in November than in the previous month, as decreases in hours
worked and employment outweighed increases in wage rates.
Personal Income in the first eleven months of 1956 was at an annual rate
of $ 32 ^ billion, $20 billion or 6-y percent higher than in the first eleven
months of 19 5 5 .
Details of personal income in November and other recent periods are shown
in the following table.
(Over)
O BE
TO TA L
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 —
M A N U F A C T U R IN G
W H O LE S A LE R S '
SA LES
A N D
A N D
M A N U F A C T U R E R S ’ S A L E S
TR 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 !?
M o n t h ly
IN V E N T O R IE S ,
M o n t h ly
P E R SO N A L
C A SH
IN C O M E ,
D IV ID E N D
N A T IO N A L
IN C O M E
P LA 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 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 , 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)
Nov.
1956
Total personal i
n
c
o
m
e
.
•••«..« 333»6
Wage and salary disbursements, total«.. 230.7
Commodity-producing industries i/o®,» 101.2
Distributive industries l/..
.
.
60.U
Service industries l/................ 31»1
Government...... ...............
38.0
t
Oct.
1956
332.5
229.7
100.6
60.2
30.9
38.0
Sept.
Nov.
Oct.
Sept.
First eleven
months
Full
year
1955
1955
1955
1955
329.5
31U.5
311.6
311.0
32U.6
Ï 95T „ J:2i&
306.1
30U.7
228.5
99.1
60.5
215.3
93.3
56.7
28.9
36.U
21U.7
38.1
217.2
9l*e2
57.3
29.3
36.U
56,9
28.7
36.3
22U.5
97.U
59.U
30.2
37.5
209.6
90.5
55.1
28.1
35.8
210.U
90.9
55.U
28.2
35.9
1956
3 0 ,8
9 2 .8
7.U
52.0
30.U
19.1
7.U
52»3
30.2
18.9
7,3
50.9
30.0
18.7
7.2
U9.6
28.1
17.7
7.2
U9.X
27.9
17,U
7.2
U9.lt
27.6
17.U
7.2
50.5
29.5
18.6
7.0
U9.1
26.8
17.5
7.0
U9.1
27.3
17.6
6.0
6.0
5.9
5.3
5.3
5.3
5.8
5.2
5.2
Total nonagricultural income h/,......... 317.7
316.3
31U.U
299.U
296.9
295.9
309.3
289.5
16.2
15.1
15.1
1U.7
15.1
15.3
15.2
Other labor income...........
Proprietors' and rental income..»»,».«
Personal interest income and dividends.
Transfer payments 2/..,...........
Less personal contributions for social
insurance 3/...... *..... .
Total agricultural income•
...... .
15.9
2 9 0 .9
15.2
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. "Servie© 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, faim wages, agricultural net
Interest, and net dividends paid by agricultural corporations.
@FedFRASER