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Commerce Reports Gains In Personal Income and OutlaysJune 1, 2010 By: George Dooley
The U.S. Commerce Department’s Bureau of Economic Analysis reports increases in personal income for April 2010. Personal income rose 0.4 percent, and real disposable personal income increased 0.5 percent. Real personal consumption expenditures were unchanged following two strong monthly gains.
“The recent improvement in the labor market is helping to provide Americans with income growth,” U.S. Commerce Under Secretary for Economic Affairs Rebecca Blank said. “Rising income and employment mean that more Americans are benefiting from the economic recovery. The administration will work to ensure that continued job growth will support further gains in incomes and living standards.”
Personal savings as a percent of disposable income was 3.6 percent for April while real consumer spending adjusted for price changes was unchanged in April compared to a 0.5 percent increase in March, Commerce said.