United States Personal Income

US personal income rose by 0.2% from the previous month to $23.948 trillion in June of 2024, slowing from a downwardly revised 0.4% increase in the previous month and below market forecasts of a 0.4% rise. Compensation of employees rose by 0.3%, down from a 0.6% increase in the previous month, driven by lower growth in wages and salaries (0.3% vs 0.6% in May) and supplements to wages and salaries (0.3% vs 0.4%). Meanwhile, personal income receipts from assets grew by 0.1%, slowing from a 0.4% growth in the previous month, with interest income at 0.3% growth, matching the previous month rate, while dividends income witnessed no growth, in contrast to 0.5% growth in the previous month. Additionally, personal current transfer maintained the same growth rate as the prior period at 0.3%. Moreover, contributions for government social insurance rose by 0.3%, down from 0.6% increase in May.