Personal income in the US surged 10 percent month-over-month in January of 2021, accelerating from a 0.6 percent rise in December and beating market expectations of a 9.5 percent jump. It was the largest gain in income since April 2020, due to an increase in government social benefits to persons as payments were made to individuals from federal COVID-19 pandemic response programs. The increase in “other” benefits primarily reflected economic impact payments distributed through the CRRSA Act. Unemployment insurance also increased, reflecting an increase in pandemic unemployment compensation, including supplemental weekly payments to unemployment beneficiaries re-introduced by the CRRSA Act. source: U.S. Bureau of Economic Analysis
Personal Income in the United States averaged 0.54 percent from 1959 until 2021, reaching an all time high of 12.40 percent in April of 2020 and a record low of -4.70 percent in January of 2013. This page provides the latest reported value for - United States Personal Income - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Personal Income - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.
Personal Income in the United States is expected to be 0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Personal Income in the United States to stand at 0.60 in 12 months time. In the long-term, the United States Personal Income is projected to trend around 0.30 percent in 2022, according to our econometric models.