US Personal Income Stalls in April

2026-05-28 12:45 By Joshua Ferrer 1 min. read

US personal income was unchanged month-over-month in April 2026, falling short of market expectations for a 0.4% increase and following a slightly downwardly revised 0.5% gain in March.

The flat reading was largely due to a $61.7 billion drop in farm proprietors’ income, reflecting lower payments under the Farmer Bridge Assistance Program after applications closed in mid-April.

Proprietors’ income with inventory valuation and capital consumption adjustments also fell by $57.8 billion.

The decline was partly offset by a $39.6 billion increase in compensation, including a $32.4 billion rise in wages and salaries.

Private-sector wages and salaries increased by $28.5 billion, while government wages and salaries rose by $3.9 billion.

Meanwhile, disposable personal income fell 0.1%, or $19.9 billion, after rising 0.5% in the previous month.

Real disposable personal income declined 0.5%, deepening from an upwardly revised 0.2% decrease in March.



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US Personal Income Stalls in April
US personal income was unchanged month-over-month in April 2026, falling short of market expectations for a 0.4% increase and following a slightly downwardly revised 0.5% gain in March. The flat reading was largely due to a $61.7 billion drop in farm proprietors’ income, reflecting lower payments under the Farmer Bridge Assistance Program after applications closed in mid-April. Proprietors’ income with inventory valuation and capital consumption adjustments also fell by $57.8 billion. The decline was partly offset by a $39.6 billion increase in compensation, including a $32.4 billion rise in wages and salaries. Private-sector wages and salaries increased by $28.5 billion, while government wages and salaries rose by $3.9 billion. Meanwhile, disposable personal income fell 0.1%, or $19.9 billion, after rising 0.5% in the previous month. Real disposable personal income declined 0.5%, deepening from an upwardly revised 0.2% decrease in March.
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US personal income rose by 0.6% month-over-month in March 2026, exceeding market expectations of a 0.3% increase, after showing no growth in February. This marked the biggest monthly gain since July 2025, driven primarily by a $64.3 billion rise in compensation, including a $56.1 billion increase in wages and salaries. Farm proprietors’ income also climbed by $60.2 billion. Income receipts on assets rose by $17.4 billion, largely reflecting a $14.9 billion increase in personal dividend income. Current transfer receipts grew by $7.5 billion, led by a $6.9 billion increase in government social benefits. Disposable personal income increased by 0.6% after a flat reading in the previous month. Real DPI edged down by 0.1%, following a 0.4% decline in February.
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US personal income fell by 0.1% month-over-month in February 2026, following a 0.4% increase in January and defying expectations of a 0.3% rise. This marked the first decline since May 2025, largely reflecting a $38.4 billion drop in personal dividend income and a $21.6 decline in current transfer receipts. This was partly offset by a $32.9 billion increase in compensation, including a $25.9 billion rise in wages and salaries and $6.9 billion rise in supplements to wages. There was also a $10.8 billion increase in farm proprietors’ income following a $9.8 billion payment to farmers under the Farmer Bridge Assistance Program. Disposable personal income fell by 0.1%, after increasing by 0.9% in January, while real DPI declined by 0.5% after a downwardly revised 0.6% rise in the prior month.
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