More detail on Personal Income gains
Posted by WARREN MOSLER on March 3rd, 2009
This is relentless and tends to cushion downturns:
Personal Income and Outlays
Mar 2 (BEA) — Personal current transfer receipts increased $66.6 billion in January, compared with an increase of $29.9 billion in December. The January change in current transfer receipts reflected 5.8-percent cost-of-living adjustments to social security benefits and to several other federal transfer payment programs; together, these changes added $41.1 billion to the January increase.
Government wage and salary disbursements increased $12.9 billion in January, compared with an increase of $1.4 billion in December. Pay raises for civilian and military personnel added $9.7 billion to government payrolls in January.
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