The Economics and Statistics Division maintains archives of previous publications for accountability purposes, but makes no updates to keep these documents current with the latest data revisions from Statistics Canada. As a result, information in older documents may not be accurate. Please exercise caution when referring to older documents. For the latest information and historical data, please contact the individual listed to the right.
<--- Return to Archive
For additional information relating to this article, please contact:
October 29, 2021US PERSONAL INCOME AND OUTLAY, SEPTEMBER 2021 (Sep 2021 vs Aug 2021, seasonally adjusted annualized rate)
The US Bureau of Economic Analysis reports that US personal income decreased $216.2 billion, or 1.0%. The decrease in September reflets lower government social benefits (-$296.6 billion) related to decreased in pandemic related support programs. Wages and salaries increased $80.1 or 0.8%.
US personal disposable income decreased $237.0 billion, or 1.3%. In real per capita terms, US disposable personal income decreased 1.7%.
US personal consumption expenditures increased $93.4 billion, or 0.6%.
Personal savings (disposable personal income minus personal consumer expenditures, interest paid, and transfers to government and the rest of the world) decreased $329.0 billion, or 19.8%. The personal savings rate was 7.5% of disposable income, similar to rates prior to March 2020.
QUOTATIONS
The estimate for September personal income and outlays reflected the continued economic impacts related to the COVID-19 pandemic. In September, several pandemic-related assistance programs ended, including expanded unemployment benefits. The full economic effects of the COVID-19 pandemic cannot be quantified in the personal income and outlays estimate because the impacts are generally embedded in source data and cannot be separately identified. For more information, see Effects of Selected Federal Pandemic Response Programs on Personal Income.
SOURCE
US Bureau of Economic Analysis. Press release, September 2021
Data retrieved from FRED, Federal Bank of St Louis, Table 2.6. Personal Income and Its Disposition, Monthly NIPA
<--- Return to Archive
