U.S. personal income declines in March
May 02, 2009
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PrintU.S. personal income fell for the second straight month by $34.4 billion or 0.3 percent, after falling 0.2 percent in February. Wages and salaries, which is the largest component of personal income fell $32.9 billion or 0.5 percent in March, after falling 0.4 percent in February, according to figures released by the Bureau of Economic Analysis.
Disposable personal income also fell in March by $1.8 billion or 0.1 percent.
Wages in the production sector decreased by $15.3 billion and wages in the service sector decreaed by $17.6 billion, while wages in the government sector increased by $2.9 billion.
