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U . S. D EP A R T M EN T O F B U S IN E S S O FFICE O F CO M M ER CE E C O N O M IC S B U SI N E SS N E W S R EP O R T S PERSONAL INCOME - September 1957 OBE 57-90 FOR RELEASE TO A . M . 'S, WEDNESDAY, OCTOBER 16, 1957 Marilyn J. Young: STerling 3-9200 Ext. 2222 Personal income in.September was at a seasonally adjusted annual rate of $3^6-| billion, little changed from August, the Office of Business Economics, U. S. Department of Commerce announced today. The annual rate of individual income flow in the third quarter as a whole was also $ 3 ^ 1 Billion. This was about $4 billion higher than in the pre ceding quarter and $18 billion, or 5i* percent, above the third quarter of 19 5 6 . Personal income estimates include wages and salaries, the net income of pro prietorships 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 compairson with previous annual totals, represent the seasonally adjusted dollar totals for each month multiplied by 12. ^ As compared with August, the September figures show a small decline in wages and salaries that was partly offset in other types of income. Most of the decline occurred in automobile manufacturing, where employment was tem porarily reduced because of model changeovers. Among manufacturing indus tries other than autos, wages declined in September in the durable-goods industries but were stable in the nondurables. Payrolls in private nonmanufacturing industries were generally steady from August to September, though disbursements moved up in the service industries and declined in contract construction and farming. Government payrolls were higher in September as disbursements by State and local governments continued to increase. For of about consumer personal the first nine months of 1957, personal income was at an annual rate $3^2 billion, 5|' percent larger than in the same months of 1956. With prices averaging 3§- percent higher in the 19 57 period, this rise in income reflected in part a gain in real purchasing power. Details of personal income in September and other recent periods are shown in the following table. (Over) Comm— DC— 6699 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 LE 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 ly 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 CO M E P LA N T M o n t h ly P A Y M EN 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 EN T S, Q u a r t e r ly MONTHLY PERSONAL I N C O M ^ J THE UNITED STATES (Seasonally adjusted annual rates in billions of dollars) Sept. 1957 TOTAL PERSONAL INCOME.................. July Aug. 1957__ 1957 Sept. Aug. _1956_ 1956 July 1956 . First nine Full months i ___1256 year 1956 m 3I4.6.8 31*6.2 331.1 329.3 325.6 31*2.3 32i*.l 326.9 228.8 225.7 238.5 225.0 227.2 10 2.1* 97.1 59.6 63.5 33.0 30.7 39.6 .37.6 98.3 60.1 31.1 37.9 Wage and salary disbursements, total... 21LL.7 2l*0.9 230.1* Commodity-producing industries l/.... Distributive industries 1/......... Service industries 1/............... 102.8 61*.7 33.7 1*0.5 103.0 6U. 5 33.1* 1*0.0 99.6 60.9 31.5 38.1* 60.5 60.2 31.5 38.2 31.2 38.0 8.0 7.9 7.6 7.6 7.5 7.9 7.5 7.5 Proprietors1 and rental income....... 51.2 51.6 1*9.9 50.1 1*9.9 50.8 1*9.7 1*9.9 Personal interest income and dividends. 31.6 31.2* 30.1 29.9 29.7 31. 1 29.3 29.5 Transfer payments 2/................ « 21.2 21.3 18.8 18.7 18.5 20.8 18.3 18.5 6.9 6.9 5.7 5.8 5.7 6.8 5.7 5.7 331.3 330.5 316 .1 311*.1 310.7 326.9 309.0 311.7 15.5 15.7 15.1* 15.1 15.2 Other labor income................ Less personal contributions for social insurance 3/ Total nonagricultural income 6.8 hf........ Total agricultural income....... . 15.0 98.6 15.2 96.3 ll*.9 y "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. "Service industries" comprises finance, insurance, and real estate and services. y Consists mainly of veterans1 payments and social insurance benefits. 3/ Data since January of 1952 represent contributions of both employees and self-enployed persons. y Equals personal income exclusive of net income of unincorporated farm enterprises, farm wages, agricultural net interest, and net dividends paid by agricultural corporations. - 0 -
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