Personal income increased $54.4 billion, or 0.4 percent, and disposable personal income (DPI)
increased $57.6 billion, or 0.5 percent, inApril, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $4.0 billion, or less than 0.1 percent. In March,
personal income increased $46.7 billion, or 0.4 percent, DPI increased $44.1 billion, or 0.4 percent,
and PCE increased $59.8 billion, or 0.6 percent, based on revised estimates.
Real disposable income increased 0.5 percent in April, compared with an increase of 0.3
percent in March. Real PCE increased less than 0.1 percent, compared with an increase of 0.5 percent.
2009 2010
Dec. Jan. Feb. Mar. Apr.
(Percent change from preceding month)
Personal income, current dollars 0.4 0.4 0.0 0.4 0.4
Disposable personal income:
Current dollars 0.5 0.3 0.0 0.4 0.5
Chained (2005) dollars 0.3 0.1 0.0 0.3 0.5
Personal consumption expenditures:
Current dollars 0.4 0.3 0.5 0.6 0.0
Chained (2005) dollars 0.2 0.1 0.5 0.5 0.0
This news release presents revised estimates of wages and salaries, personal taxes, and contributions
for government social insurance for October through December 2009 (fourth quarter). These estimates
reflect the incorporation of newly available fourth-quarter wage and salary tabulations from the quarterly
census of employment and wages from the Bureau of Labor Statistics.
Wages and salaries
Private wage and salary disbursements increased $24.4 billion in April, compared with an increase of
$13.7 billion in March. Goods-producing industries' payrolls increased $5.8 billion, compared with
an increase of $4.1 billion; manufacturing payrolls increased $4.5 billion, compared with an increase
of $1.6 billion. Services-producing industries' payrolls increased $18.6 billion, compared with an
increase of $9.6 billion. Government wage and salary disbursements increased $1.9 billion, compared
with an increase of $2.9 billion.
Other personal income
Supplements to wages and salaries increased $3.8 billion in April, the same increase as in March.
Proprietors' income increased $13.6 billion in April, compared with an increase of $4.0 billion in March.
Farm proprietors' income increased $3.8 billion, in contrast to a decrease of $5.0 billion. Nonfarm
proprietors' income increased $9.8 billion, compared with an increase of $9.0 billion.
Rental income of persons increased $0.5 billion in April, compared with an increase of $2.8 billion in
March. Personal income receipts on assets (personal interest income plus personal dividend income)
increased $18.9 billion, in contrast to a decrease of $13.4 billion.
Personal current transfer receipts decreased $4.8 billion in April, in contrast to an increase of
$35.4 billion in March. The March change reflected an increase in emergency unemployment compensation,
which boosted personal current transfer receipts by $18.6 billion at an annual rate in March.
Contributions for government social insurance -- a subtraction in calculating personal
income -- increased $3.7 billion in April, compared with an increase of $2.7 billion in March.
Personal current taxes and disposable personal income
Personal current taxes decreased $3.2 billion in April, in contrast to an increase of $2.6 billion
in March. Disposable personal income (DPI) -- personal income less personal current taxes -- increased
$57.6 billion, or 0.5 percent, in April, compared with an increase of $44.1 billion, or 0.4 percent in March.
Personal outlays and personal saving
Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased
$1.8 billion inApril, compared with an increase of $61.9 billion in March. PCE increased $4.0 billion,
compared with an increase of $59.8 billion.
Personal saving -- DPI less personal outlays -- was $398.5 billion in April, compared with $342.7 billion
in March. Personal saving as a percentage of disposable personal income was 3.6 percent in April,
compared with 3.1 percent in March. For a comparison of personal saving in BEAs national income and
product accounts with personal saving in the Federal Reserve Boards flow of funds accounts and data
on changes in net worth, go to /national/nipaweb/Nipa-Frb.asp.
Real DPI, real PCE and price index
Real DPI -- DPI adjusted to remove price changes -- increased 0.5 percent in April, compared with an
increase of 0.3 percent in March.
Real PCE -- PCE adjusted to remove price changes -- increased less than 0.1 percent in April, compared
with an increase of 0.5 percent in March. Purchases of durable goods increased 0.1 percent, compared with
an increase of 3.6 percent. Purchases of motor vehicles and parts accounted for most of the increase
in March. Purchases of nondurable goods decreased 0.1 percent in April, in contrast to an increase of 0.4
percent in March. Purchases of services increased 0.1 percent, compared with an increase of less than 0.1 percent.
PCE price index -- The price index for PCE increased less than 0.1 percent in April, compared with an
increase of 0.1 percent in March. The PCE price index, excluding food and energy, increased 0.1 percent
in April, the same increase as in March.
Revisions
For October through December 2009, the revisions to wages and salaries reflected the incorporation
of newly available BLS tabulations for fourth-quarter private wages and salaries from the quarterly
census of employment and wages. Wages and salaries were revised down for all three months. Revisions
to personal current taxes and to contributions for government social insurance reflected the revisions to wages
and salaries and the incorporation of newly available federal tax collections data. Changes in personal
income, current-dollar and chained (2005) dollar DPI, and current-dollar and chained (2005) dollar
PCE for February and March -- revised and as published in last month's release -- are shown below.
Change from preceding month
February March
Previous Revised Previous Revised Previous Revised Previous Revised
(Billions of dollars) (Percent) (Billions of dollars) (Percent)
Personal Income:
Current dollars 7.1 2.2 0.1 0.0 36.0 46.7 0.3 0.4
Disposable personal income:
Current dollars 4.3 2.3 0.0 0.0 32.3 44.1 0.3 0.4
Chained (2005) dollars 2.9 1.6 0.0 0.0 20.1 29.2 0.2 0.3
Personal consumption expenditures:
Current dollars 56.4 53.4 0.5 0.5 58.6 59.8 0.6 0.6
Chained (2005) dollars 50.0 47.7 0.5 0.5 44.5 44.2 0.5 0.5
BEAs national, international, regional, and industry estimates; the Survey of Current Business; and BEA news
releases are available without charge on BEAs Web site at www.bea.gov. By visiting the site, you can also
subscribe to receive free e-mail summaries of BEA releases and announcements.
* * *
Next release -- June 28, 2010 at 8:30 A.M. EDT for Personal Income and Outlays for May.
-more-
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NOTE. - - Monthly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified.
Month-to-month dollar changes are differences between these published estimates.
Month-to-month percent changes are calculated from unrounded data and are not annualized.
Real estimates are in chained (2005) dollars.
This news release is available on BEAs Web site at www.bea.gov/newsreleases/rels.htm.
