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DEPARTMENT OF COMMERCE Office of Business Economics For Immediate Release, Wednesday, November 12, 19^7. . IH ) Jnraonnl income in September rose to an annual rate billion higher than in August, even without including the additional $11.5 billion gain de rived in September from-tbis-pashing of terminal leave bonds, the Department of "* Commerce announced today. Noting that the annual rate data represent the seasonally-adjusted monthly total multiplied by 12 - - t o facilitate comparison with previous yearly totals the Office of Business Economics reported that the extraordinary September annual rate of $210 billion, compared with the $195 billion in August, resulted in tho main from the bond settlement. However, exclusive of payments on terminal n eve account the September annual rate of personal income was $199 billion. Other increases in personal income were centered in wages and salaries and in proprietors' income. Personal income includes wage and salary receipts, net income of proprietors and partnerships (farm and nenfarm), dividends and intoit. .>t, r.i. u received by landlords, and other types of individual income. .. Factory pay rolls, which increased in September to an annual rate of 5 billion as employment expanded and average wookly earnings rose, new ‘-xcoou ^ne wartime highs reached in early 19 ^ 5 . Wage rate increases granted railroad worker contributed to the rise in wage and salary receipts. With both prices and marketings of livestock increasing above a u l usd levels, farm income rose substantially. Nonagricultural proprietors' income, also mounted, reflecting chiefly increases in manufacturers 1 shipments ai.i r e t a i l ^ sales. \ A ' 1 t\ The average level of personal income during the first 9 months^of 19‘H van at an annual rate of $19^.5 billion, the Department said, compared with the fullyear totul of $ 177*2 billion in 19 ^-6 . Details of personal Income for August and September 19^7, September and for the first 9 months of 19 ^ 0 , 19 ^"» and^l9^i arc shown in the f o l l c v i u g table: ,
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