Author: paulmccaffrey

Personal income expected “to settle”

Personal income may have succumbed to an anemic equilibrium in March following months of fluctuations, with forecasters anticipating a slight uptick in Monday’s official report from the Commerce Department. Due to a tough job market, tax increases and cuts in government spending, personal income is expected to have risen about […]

Job growth helps spur personal income, consumer spending resurgence

Personal income rebounded in February after a dismal January, rising faster than expected despite tax hikes and looming federal budget cuts. Buoyed by strong employment numbers, personal income increased by 1.1 percent, or $143.2 billion, the Commerce Department reported Friday, an encouraging correction following a volatile period that saw a […]

Personal income posts biggest plunge in 20 years

Personal income plummeted by the largest margin in 20 years in January, but the decline constitutes a temporary adjustment rather than a long-term trend. The 3.6 percent plunge, measuring $505.5 billion, reflects the severest drop since January 1993, the Commerce Department reported Friday, and a sharp contrast to the 2.6 […]