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U. S. D EP A R T M EN T OF COMMERCE O FFI CE O F HCCMS - November 1959 OBE 59-95 FOR RELEASE THURSDAY A.M. , DECEMBER 17, 1959 Bruce M« $3 8 5 STerling 3-9200 Ext. 2222 Fowler: Personal billion iaeora® in ECO N O M ICS N E W S R EP O R T S B U SI N E S S PERSONAL B U SI N ESS 'ms at a seasonally adjusted animal rat® of nearly November, $21 billion higher than- in October, the Office of Business Econard.cs, U. 8. Department of Commerce announced today. The Novem ber income total was $1 billion above the previous peak reached in June, the last full' month not affected by the steel strike. Wage and salary disbursements advanced by a $1 billion rat® from Octo ber to November, while government transfer payments increased by about $3/^ billion. Small increases in most of the other income components together accounted for the remainder of th© November rise. Payrolls in the primary metals industry, mining, and transportation were up $2§- billion as steel workers returned to their jobs in early Novem ber. Shortages of steel products resulted in employment reductions and a $2 billion payroll decline (annual rat©) in the transportation equipment, fabricated metals and the machinery industries. Other manufacturing indus tries showed no significant changes from October to November in wage and salary disbursements. Among nonmanufacturing industries, limited payroll advances were registered for State and local governments and service industries. Th® increase in government transfers stemmed primarily from higher dis bursements under the insured imemployment programs, reflecting layoffs due to the secondary effects of the steel strike -- chiefly those in the auto motive industry. Details of personal income in November and other recent periods are shown in th® following table. (Over) OBE B U SI N ESS N EW S R EP O R T S R EG U L A R L Y A V A I L A B L E - Comm-DC~47360 P ER SO N A L TO TA L M A N U FA CT U R IN G M A N U FA CTU R ER S' SA LES A N D A N D 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 CA SH IN CO M E , D IV ID E N D N A T IO N A L M o n t h ly PA YM EN TS. IN CO M E A N D PLA N T M o n t h ly PR O D U CT , Q u a r t e r ly A N D B A LA N CE O F E Q U IP M E N T S U R V E Y , Q u a r t e r ly IN T E R N A T IO N A L P A Y M E N T S , Q u a r t e r ly INCOME MONTHLY (Seasonally adjusted annual rates in billions of dollars) Full TOTAL PERSONAL INCOME................... Wage and salary disbursements, total.... 1958 11 months year 1958 1959 1958 36U.3 36U.2 379.2 358.5 359.0 3%ô. 1 2U6.1 2U2.1 2U2.5 257.3 238.6 239.U ¿57S 8U.ii 68.3 37.8 U6.2 101.8 79.7 6U.7 35.3 UU.3 98.7 76.9 6U.1 35.2 UU.1 99.3 77.9 6U.1 35.0 UU.X 107.2 8U.U 67.5 37.1 U5.6 97.U 76.3 63.7 3U.5 U3.1 97.8 76.7 /a 7,3 Ÿ 7, & 9,3 10.0 Nov. 1959 1958 Oct. 382.3 380.9 367.5 259.2 259.2 Nov. Oct. Sept. 1959 1959 381w 8 2 6 0 .2 .U 83.6 68.5 38.0 U6.U 1958 Commodity-producing industries........ Manufacturing only......... . Distributive industries............... Service industries.................... 107.0 83.9 68.5 38.1 U6.6 Other labor income...................... 10.3 10.2 10.2 9.U 9.3 35.2 10.ii 35.0 10.2 3U.8 9.6 33.1 1U.1 33.2 1U.2 12.0 12.0 12.0 11.9 13.7 13.6 13.5 Personal interest income..... ......... 23.5 23o3 Transfer payments V « « . » ........ . 27.9 8.U Proprietors' incomes Business and professional............. Rental income of persons.... . Less: Personal contributions for social Total nonagricultural income 2/........... 370.U 1U.U 10 6 10 6 . 8 Sept. First 6 3 .8 ¿7 //£> 3U.6 U3.2 S7‘*- 9.3 9.3 /0.0 1U.3 3U.5 11.6 32.3 1U.2 32.U 1U.2 //.•Î 11.9 11.9 12.0 11.8 11.8 U. a 12.6 12.6 12.6 13.1 12.6 12.U U-Z- 23.0 20.8 20.7 20.6 22.3 20.U 20.U 27o2 27.0 26.6 27.U 27.3 26.7 26.2 26.1 8.U 8.U 7.1 7.1 7.1 8.3 7.0 7.0 367.5 3U9.6 3U6.3 3U6a 363.7 3U0.6 3U1.1 13.U 18.0 18.1 16.1 15.5 17.9 17.9 3 6 8 .1 lii.2 3 2 .8 1. Consist mainly of social 'insurance benefits and veterans* payments. 2. Equals personal income exclusive of net income of unincorporated farm enterprises, farm wages, agricultural net interest, and net dividends paid by agricultural corporations* •7 ¡£.7
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