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Release Date: February 26, 2021 Effects of Selected Federal Pandemic Response Programs on Personal Income, January 2021 (Billions of dollars, seasonally adjusted at annual rates) Line 1 Personal income 2 Compensation of employees 3 Wages and salaries 4 Private industries 5 Government 6 Supplements to wages and salaries 7 Proprietors' income with IVA and CCAdj 8 Farm Of which: Coronavirus Food Assistance Program 1 9 Paycheck Protection Program loans to businesses 2 10 11 Nonfarm Of which: Paycheck Protection Program loans to businesses 2 12 13 Rental income of persons with CCAdj 14 Personal income receipts on assets 15 Personal interest income 16 Personal dividend income 17 Personal current transfer receipts 18 Government social benefits to persons 19 Social security 20 Medicare Of which: Increase in Medicare reimbursement rates 3 21 22 Medicaid 23 Unemployment insurance Of which: 4 24 Extended Unemployment Benefits 25 Pandemic Emergency Unemployment Compensation 26 Pandemic Unemployment Assistance 27 Pandemic Unemployment Compensation Payments 28 Veterans' benefits 29 Other Of which: Economic impact payments 5 30 Lost wages supplemental payments 6 31 Paycheck Protection Program loans to NPISH 2 32 Provider Relief Fund to NPISH 7 33 34 Other current transfer receipts, from business (net) 35 Less: Contributions for government social insurance 36 Less: Personal current taxes 37 Equals: Disposable personal income (DPI) 38 Less: Personal outlays 39 Personal consumption expenditures 40 Personal interest payments Of which: Student loan forbearance 8 41 42 Personal current transfer payments 43 To government 44 To the rest of the world (net) 45 Equals: Personal saving CARES CCAdj IVA NPISH Jul. Aug. 20,173.9 19,624.3 11,354.1 11,479.5 9,246.2 9,354.8 7,816.5 7,902.0 1,429.7 1,452.8 2,107.9 2,124.7 1,700.6 1,807.9 47.4 71.7 Levels 2020 2021 Sep. Oct. Nov. Dec. Jan. 19,762.2 19,627.8 19,386.2 19,499.2 21,453.9 11,564.9 11,648.3 11,706.8 11,768.3 11,854.9 9,428.9 9,502.0 9,548.9 9,597.3 9,667.0 7,984.3 8,064.2 8,112.8 8,160.1 8,224.8 1,444.6 1,437.8 1,436.1 1,437.1 1,442.2 2,135.9 2,146.3 2,157.8 2,171.1 2,187.9 1,900.6 1,916.9 1,717.3 1,638.1 1,630.7 69.3 150.5 79.1 70.5 55.2 Aug. -549.6 125.4 108.6 85.5 23.1 16.8 107.3 24.3 Change from preceding month 2020 Sep. Oct. Nov. Dec. 137.9 -134.4 -241.6 112.9 85.3 83.4 58.5 61.6 74.1 73.0 47.0 48.3 82.3 79.9 48.6 47.3 -8.2 -6.9 -1.6 1.0 11.2 10.4 11.5 13.2 92.7 16.3 -199.6 -79.3 -2.4 81.1 -71.4 -8.6 20.4 9.1 1,653.2 27.3 9.2 1,736.2 7.6 9.2 1,831.3 92.5 6.3 1,766.4 26.3 1.8 1,638.3 20.0 0.2 1,567.6 2.4 1.5 1,575.5 6.9 0.1 83.0 -19.7 0.0 95.1 84.8 -2.9 -64.8 -66.2 -4.5 -128.2 -6.3 -1.6 -70.7 -17.6 1.3 7.9 295.4 797.9 2,870.5 1,628.4 1,242.0 4,882.0 4,836.2 1,078.1 837.5 297.4 803.7 2,847.9 1,619.1 1,228.8 4,128.2 4,082.3 1,081.8 842.6 298.4 811.6 2,838.6 1,611.8 1,226.8 4,097.5 4,051.6 1,082.1 848.1 203.4 807.7 2,857.3 1,620.9 1,236.4 3,854.9 3,808.8 1,090.9 854.0 58.4 804.9 2,893.3 1,622.2 1,271.1 3,726.1 3,679.9 1,087.5 860.4 6.2 802.2 2,956.1 1,623.6 1,332.5 3,803.6 3,757.2 1,088.9 867.3 23.9 811.0 2,867.5 1,623.7 1,243.8 5,780.6 5,734.1 1,104.6 873.9 2.0 5.8 -22.6 -9.4 -13.2 -753.8 -753.9 3.7 5.1 1.1 8.0 -9.3 -7.3 -2.0 -30.7 -30.7 0.3 5.5 -95.0 -4.0 18.7 9.2 9.5 -242.7 -242.8 8.8 6.0 -145.0 -2.7 36.0 1.3 34.7 -128.8 -128.9 -3.3 6.4 -52.2 -2.7 62.8 1.4 61.4 77.5 77.3 1.4 6.8 17.7 8.8 -88.7 0.1 -88.7 1,977.1 1,976.9 15.6 6.6 14.7 686.3 1,330.5 14.8 684.7 636.0 14.9 680.1 358.9 15.0 680.6 304.6 15.1 683.6 281.1 15.2 689.3 307.8 15.3 698.0 570.6 0.1 -1.6 -694.5 0.1 -4.6 -277.1 0.1 0.5 -54.4 0.1 3.0 -23.4 0.1 5.7 26.6 0.1 8.7 262.8 1.2 16.6 156.6 896.2 144.3 759.5 3.1 21.4 170.4 223.1 145.4 691.8 5.0 33.6 141.2 0.0 146.4 936.0 7.9 59.0 120.3 0.0 147.3 731.4 9.7 68.3 112.3 0.0 148.3 618.9 15.6 64.4 99.9 40.9 149.2 654.8 24.7 64.1 101.5 302.1 150.2 2,336.9 1.9 4.8 13.9 -673.0 1.1 -67.7 1.8 12.2 -29.2 -223.1 1.0 244.2 2.9 25.4 -21.0 0.0 0.9 -204.6 1.8 9.4 -8.0 0.0 1.0 -112.5 5.9 -3.9 -12.4 40.9 0.9 35.9 9.1 -0.3 1.6 261.2 1.1 1,682.1 32.8 9.0 4.8 14.1 1.1 0.0 1,660.9 0.0 21.5 297.1 86.2 12.5 8.8 2.1 27.0 27.0 27.0 27.0 5.1 0.3 3.4 99.1 48.1 28.1 23.9 17.6 62.0 56.9 45.8 45.9 46.0 46.1 46.2 46.4 46.6 1,431.1 1,442.8 1,451.0 1,457.2 1,462.2 1,469.2 1,490.8 2,165.4 2,193.9 2,215.5 2,228.9 2,234.8 2,244.6 2,236.2 18,008.6 17,430.4 17,546.8 17,398.9 17,151.4 17,254.5 19,217.7 14,702.9 14,878.5 15,080.1 15,106.8 15,008.6 14,938.9 15,287.6 14,224.7 14,397.2 14,582.7 14,618.3 14,532.9 14,475.9 14,816.8 277.8 287.2 296.6 283.7 270.7 257.8 265.4 -23.8 21.5 0.0 -51.0 0.1 11.7 28.6 -578.1 175.6 172.5 9.4 -4.2 275.6 0.0 -20.0 0.1 8.2 21.5 116.4 201.6 185.6 9.4 9.2 -210.9 0.0 -4.2 0.1 6.2 13.5 -147.9 26.7 35.6 -12.9 -13.0 -73.7 -21.9 -6.4 0.1 5.0 5.9 -247.5 -98.2 -85.5 -12.9 -1.1 -3.7 -4.8 44.4 0.2 6.9 9.8 103.1 -69.7 -57.0 -12.9 1,660.9 -6.8 3.1 -5.1 0.2 21.7 -8.5 1,963.2 348.7 340.9 7.6 0.0 -6.2 0.2 -6.4 -753.8 0.0 6.6 0.2 6.4 -85.2 0.0 4.0 0.2 3.8 -174.6 0.0 0.2 0.2 0.0 -149.3 0.0 0.2 0.2 0.0 172.8 0.0 0.3 0.3 0.0 1,614.5 -36.0 200.4 112.8 87.6 3,305.7 -36.0 194.2 113.0 81.2 2,551.9 -36.0 200.7 113.1 87.6 2,466.7 -36.0 204.8 113.3 91.4 2,292.2 -36.0 205.0 113.6 91.4 2,142.8 -36.0 205.2 113.8 91.4 2,315.6 -36.0 205.5 114.0 91.4 3,930.1 -Coronavirus Aid, Relief, and Economic Security -Capital consumption adjustment -Inventory valuation adjustment -Nonprofit institutions serving households 1. The Coronavirus Food Assistance Program, initially established by the CARES Act, provides direct support to farmers and ranchers where prices and market supply chains have been impacted by the COVID-19 pandemic. 2. The Paycheck Protection Program, initially established by the CARES Act, provides forgivable loans to help small businesses and nonprofit institutions make payroll and cover other expenses. It also provides funding to reimburse private lending institutions for the costs of administering these loans. For more information, see "How does the Paycheck Protection Program impact the national income and product accounts (NIPAs)?". 3. A two percent reduction in reimbursements paid to Medicare service providers that went into effect in 2013 was initially suspended by the CARES Act. The resulting increased reimbursement rates went into effect beginning on May 1, 2020. 4. Unemployment insurance benefits were expanded through several programs that were initially established through the CARES Act. For more information, see "How will the expansion of unemployment benefits in response to the COVID-19 pandemic be recorded in the NIPAs?". 5. Economic impact payments, initially established by the CARES Act, provide direct payments to individuals. For more information, see "How are federal economic impact payments to support individuals during the COVID-19 pandemic recorded in the NIPAs?". 6. The Federal Emergency Management Agency (FEMA) was authorized to make payments from the Disaster Relief Fund to supplement wages lost as a result of the COVID-19 pandemic. 7. The Department of Health and Human Services distributes money from the Provider Relief Fund to hospitals and health care providers on the front lines of the coronavirus response. This funding supports health care-related expenses or lost revenue attributable to COVID-19 and ensures uninsured Americans can get treatment for COVID-19. In the NIPAs, funds provided to nonprofit hospitals are recorded as social benefits. 8. Interest payments due on certain categories of federally-held student loans were initially suspended by the CARES Act. For more information, see "How does the federal response to the COVID-19 pandemic affect BEA's estimate of personal interest payments?". NOTE: For national statistics detailing the amount and sources of people’s incomes for each month, BEA publishes the total level of personal income at an annualized rate. BEA does this so that monthly estimates of personal income can be easily compared to quarterly estimates of personal income included in BEA's quarterly gross domestic product report, for example. To be consistent, the figures in this table also are annualized. For more information, see the FAQ "Why does BEA publish estimates at annual rates?" on BEA's website. Data on this table will be superseded by updated estimates. Source: U.S. Bureau of Economic Analysis 2021 Jan. 1,954.7 86.5 69.7 64.7 5.0 16.8 -7.4 -15.2 Release Date: February 26, 2021 Effects of Selected Federal Pandemic Response Programs on Personal Income, 2020 (Billions of dollars) Levels Line 1 Personal income 2 Compensation of employees 3 Wages and salaries 4 Private industries 5 Government 6 Supplements to wages and salaries 7 Proprietors' income with IVA and CCAdj 8 Farm Of which: Coronavirus Food Assistance Program 1 9 Paycheck Protection Program loans to businesses 2 10 11 Nonfarm Of which: Paycheck Protection Program loans to businesses 2 12 13 Rental income of persons with CCAdj 14 Personal income receipts on assets 15 Personal interest income 16 Personal dividend income 17 Personal current transfer receipts 18 Government social benefits to persons 19 Social security 20 Medicare Of which: Increase in Medicare reimbursement rates 3 21 22 Medicaid 23 Unemployment insurance Of which: 4 24 Extended Unemployment Benefits 25 Pandemic Emergency Unemployment Compensation 26 Pandemic Unemployment Assistance 27 Pandemic Unemployment Compensation Payments 28 Veterans' benefits 29 Other Of which: Economic impact payments 5 30 Lost wages supplemental payments 6 31 Paycheck Protection Program loans to NPISH 2 32 Provider Relief Fund to NPISH 7 33 34 Other current transfer receipts, from business (net) 35 Less: Contributions for government social insurance 36 Less: Personal current taxes 37 Equals: Disposable personal income (DPI) 38 Less: Personal outlays 39 Personal consumption expenditures 40 Personal interest payments Of which: Student loan forbearance 8 41 42 Personal current transfer payments 43 To government 44 To the rest of the world (net) 45 Equals: Personal saving CARES CCAdj IVA NPISH 2015 2016 2017 2018 2019 2020 15,724.2 16,160.7 16,948.6 17,851.8 18,551.5 19,691.6 9,699.4 9,963.9 10,422.5 10,950.1 11,432.4 11,449.5 7,859.5 8,089.1 8,471.5 8,894.2 9,309.3 9,331.9 6,583.7 6,780.9 7,123.7 7,491.7 7,858.5 7,886.3 1,275.8 1,308.2 1,347.7 1,402.5 1,450.8 1,445.6 1,839.9 1,874.7 1,951.1 2,055.9 2,123.1 2,117.6 1,423.0 1,424.8 1,509.0 1,585.9 1,657.7 1,694.6 56.2 36.0 41.5 43.0 49.7 64.5 2016 436.5 264.4 229.6 197.2 32.4 34.8 1.8 -20.2 Change from preceding year 2017 2018 2019 787.9 903.2 699.7 458.7 527.6 482.3 382.3 422.7 415.1 342.8 368.0 366.8 39.5 54.8 48.3 76.3 104.8 67.2 84.2 77.0 71.7 5.5 1.5 6.6 ... ... 1,366.7 ... ... 1,388.7 ... ... 1,467.4 ... ... 1,542.9 ... ... 1,608.0 20.4 4.6 1,630.1 ... ... 22.0 ... ... 78.7 ... ... 75.5 ... ... 65.1 20.4 4.6 22.0 ... 649.0 2,472.2 1,439.1 1,033.1 2,685.4 2,635.1 871.8 634.9 ... 682.7 2,551.7 1,474.3 1,077.4 2,776.8 2,717.1 896.5 662.1 ... 721.9 2,738.5 1,577.6 1,160.8 2,855.1 2,806.2 926.1 692.3 ... 759.3 2,946.7 1,641.6 1,305.1 2,970.3 2,922.9 972.4 734.2 ... 787.1 2,967.9 1,677.4 1,290.4 3,125.2 3,078.0 1,030.7 783.7 148.9 801.9 2,912.3 1,639.7 1,272.6 4,269.4 4,222.3 1,078.4 833.0 ... 33.6 79.6 35.2 44.4 91.4 82.0 24.7 27.2 ... 39.3 186.8 103.4 83.4 78.3 89.1 29.6 30.1 ... 37.4 208.2 63.9 144.2 115.2 116.7 46.3 41.9 ... 27.8 21.2 35.8 -14.6 154.9 155.1 58.3 49.5 148.9 14.8 -55.6 -37.7 -17.8 1,144.2 1,144.2 47.7 49.3 ... 535.9 32.5 ... 562.7 32.3 ... 573.7 30.3 ... 589.8 27.9 ... 614.0 27.7 9.9 665.3 550.2 ... 26.8 -0.3 ... 11.0 -1.9 ... 16.1 -2.4 ... 24.2 -0.1 9.9 51.3 522.5 ... ... ... ... 92.6 467.4 ... ... ... ... 96.8 466.8 ... ... ... ... 111.5 472.4 ... ... ... ... 119.7 478.9 ... ... ... ... 130.9 490.9 3.5 23.7 92.1 266.5 143.6 951.8 ... ... ... ... 4.2 -0.6 ... ... ... ... 14.7 5.6 ... ... ... ... 8.2 6.5 ... ... ... ... 11.2 12.1 3.5 23.7 92.1 266.5 12.7 460.8 ... ... ... ... ... 274.7 ... ... ... ... ... 35.5 ... ... ... ... ... 14.2 ... ... ... ... ... 63.8 50.3 59.7 48.8 47.4 47.2 47.2 1,204.7 1,239.1 1,298.4 1,360.4 1,418.8 1,436.1 1,939.9 1,957.9 2,046.7 2,085.3 2,202.9 2,194.2 13,784.3 14,202.8 14,901.9 15,766.5 16,348.6 17,497.4 12,745.6 13,227.8 13,830.9 14,529.2 15,117.4 14,649.6 12,297.5 12,770.0 13,340.4 13,993.3 14,544.6 14,146.7 264.7 273.0 297.3 332.9 362.3 299.2 ... ... ... ... 9.4 34.3 17.9 418.5 482.2 472.5 8.3 ... ... ... ... -10.8 59.3 88.8 699.0 603.1 570.4 24.3 ... ... ... ... -1.5 62.0 38.6 864.7 698.3 652.9 35.6 ... ... ... ... -0.2 58.4 117.6 582.1 588.2 551.3 29.4 274.7 35.5 14.2 63.8 -0.1 17.3 -8.7 1,148.8 -467.8 -397.9 -63.1 ... 1.4 2.5 -1.1 -63.7 ... 8.4 3.8 4.7 95.9 ... 9.8 4.3 5.5 166.3 ... 7.4 3.8 3.6 -6.1 -28.8 -6.7 -2.4 -4.4 1,616.6 ... 183.5 100.9 82.5 1,038.7 ... 184.8 103.4 81.5 975.0 ... 193.3 107.1 86.1 1,071.0 ... 203.0 111.4 91.6 1,237.3 ... 210.5 115.2 95.3 1,231.2 -28.8 203.7 112.8 90.9 2,847.8 -Coronavirus Aid, Relief, and Economic Security -Capital consumption adjustment -Inventory valuation adjustment -Nonprofit institutions serving households 1. The Coronavirus Food Assistance Program, initially established by the CARES Act, provides direct support to farmers and ranchers where prices and market supply chains have been impacted by the COVID-19 pandemic. 2. The Paycheck Protection Program, initially established by the CARES Act, provides forgivable loans to help small businesses and nonprofit institutions make payroll and cover other expenses. It also provides funding to reimburse private lending institutions for the costs of administering these loans. For more information, see "How does the Paycheck Protection Program impact the national income and product accounts (NIPAs)?". 3. A two percent reduction in reimbursements paid to Medicare service providers that went into effect in 2013 was initially suspended by the CARES Act. The resulting increased reimbursement rates went into effect beginning on May 1, 2020. 4. Unemployment insurance benefits were expanded through several programs that were initially established through the CARES Act. For more information, see "How will the expansion of unemployment benefits in response to the COVID-19 pandemic be recorded in the NIPAs?". 5. Economic impact payments, initially established by the CARES Act, provide direct payments to individuals. For more information, see "How are federal economic impact payments to support individuals during the COVID-19 pandemic recorded in the NIPAs?". 6. The Federal Emergency Management Agency (FEMA) was authorized to make payments from the Disaster Relief Fund to supplement wages lost as a result of the COVID-19 pandemic. 7. The Department of Health and Human Services distributes money from the Provider Relief Fund to hospitals and health care providers on the front lines of the coronavirus response. This funding supports health care-related expenses or lost revenue attributable to COVID-19 and ensures uninsured Americans can get treatment for COVID-19. In the NIPAs, funds provided to nonprofit hospitals are recorded as social benefits. 8. Interest payments due on certain categories of federally-held student loans were initially suspended by the CARES Act. For more information, see "How does the federal response to the COVID-19 pandemic affect BEA's estimate of personal interest payments?". NOTE: For national statistics detailing the amount and sources of people’s incomes for each month, BEA publishes the total level of personal income at an annualized rate. BEA does this so that monthly estimates of personal income can be easily compared to quarterly estimates of personal income included in BEA's quarterly gross domestic product report, for example. To be consistent, the figures in this table also are annualized. For more information, see the FAQ "Why does BEA publish estimates at annual rates?" on BEA's website. Data on this table will be superseded by updated estimates. Source: U.S. Bureau of Economic Analysis 2020 1,140.0 17.0 22.6 27.7 -5.2 -5.5 36.9 14.9
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