The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
U . S. D E P A R T M E N T • OF CO M M ER CE O FFICE B U SIN ESS N EW S OF B U SI N ESS ECO N O M ICS R EP O R T S PERSONAL IHCCME - October 1959 FOE RELEASE IN P„M. PAPERS THURSDAY NOVEMBER 19, 1959 James W. McNally: O B E 59 86 STerling 3-9200 Ext. 3501 Personal income was at a seasonally adjusted annual rate of $382 billion in October, about $1 billion above September, the Office of Business Economics, U. S. Department of Commerce announced today. A small decline in wage and salary disbursements was more than offset by Increases in other types of income. The reduction in wages and salaries centered in durable goods manufac turing. Material shortages led to a payroll drop in fabricated metals, and disbursements in primary metals continued to edge down. Other durable goods Industries registering small decreases were stone, clay and glass, machinery, and lumber. Payrolls changed little in the nondurable goods industries. Most of the drop in factory payrolls was due to lower employment, as average weekly earnings changed only slightly. Among nonmanufacturing industries, limited payroll advances were re ported b y State and local governments, trade, and service industries. Farm proprietors9 income, interest, and transfer payments increased in October. The advance in transfers stemmed primarily from higher disburse ments under the insured unemployment programs, reflecting layoffs due to the secondary effects of the steel strike. Old-age and survivors* insurance benefits were also up moderately from September. Details of personal income in October and other recent periods are shown in the following table. (Over) f , BE BUSINESS NEWS REPORTS REGULARLY AVAILABLE™ C C M M - a C - 4 7 3 19 T O T A L M M A N U F A C T U R IN G A N U F A C T U R E R S ' S A L E S A N D A N D T R A D E IN V E N T O R IE S , IN V E N T O R IE S , M o n t h ly M o n t h ly P E R S O N A L C A SH IN C O M E , D IV ID E N D N A T IO N A L M o n t h ly P A Y M EN T S, IN CO M E A N D P U N T M o n t h ly P R O D U C T , Q u arte rl A N D B A LA N C E O F E Q U IP M E N T S U R V E Y , IN T E R N A T IO N A L Q u a r t e r ly P A Y M EN T S, Q u a r t e r ly , INCOME MONTHLY (Seasonally adjusted annual rates in billions of dollars) Oct. 1958 Sept. 1958 Aug. 1958 First 10 months 1959 1958 Full Year 1958 38 0 .0 36 J4 .3 361*. 2 362.lt 378.6 357.6 359.0 259.2 258.8 2it2.1 2lt2.5 2ltl.3 257.0 237.9 239.lt 10 6 .2 83.7 68.it 37.9 lt6.it 10 6 .8 81t.lt 6 8 .3 37.8 k6 . 2 10 6 .8 8it.O 6 8 .3 37.6 1*5.0 98.7 76.9 6!t.l 35.2 Itit.l 99.3 77.9 61**1 35.0 Itit.l 97.9 76.7 6U.3 35.0 Itit.l 107.2 81t.5 67.lt 37.0 2t5.5 96.9 76.0 6 3.6 3lt.lt lt3.0 97.8 76.7 6 3.8 3lt.6 lt3.2 Other labor income....... . 10.2 10.2 10.1 9.3 9.3 9.3 9.9 9.3 9.3 Proprietors* income: Business and professional............. Farm................ . 3k.9 3U.8 9.6 3U.9 10.0 33.2 lit.2 32.8 10.0 lit.3 32.6 lit.2 3lt.lt 11.7 32.2 lit. 2 32.lt lit.2 Rental income of persons..............., 12.0 12.0 12.0 11.9 11.9 11.9 12.0 11.8 11.8 Dividends................. ........ . 13.5 13.5 13. k 12.6 12.6 12.6 13.1 12.6 12.lt Personal interest income................ 23.3 2 3.0 22.7 20.7 20.6 2 0 .5 22.1 20.it 20.lt Transfer payments 3/...... ........ . 27.3 27.0 26.5 27.lt 27.3 27.2 26.6 2 6 .2 2 6 ,1 8.1* 7.1 7.1 7.1 8,3 7.0 7.0 Oct. 1959 Sept. 1959 Aug. 1959 381.9 380.9 Wage and salary disbursements, total.... 259.0 Commodity-producing industries........ Manufacturing only.......... . Distributive industries............... Service industries................. . Government......... ......... TOTAL PERSONAL INCOME......... . Less: Personal contributions for social insurance................. . 8.1* 8.it Total nonagrisultural income 2/........... 36 8 .0 367.5 366.3 31*6.3 31*6.1 3ltlt.5 363.0 339.7 3l|l.l Total agricultural income................. 13.9 13.U 13.7 18.1 18.1 17.9 15.6 17.9 17.9 1. 2. Consists mainly of social insurance benefits and veterans* payments. Equals personal income exclusive of net income of unincorporated farm enterprises, farm wages, agricultural net interest, and net dividends paid by agricultural corporations.
@FedFRASER