March 29, 2017

Income Levels Rise in August

After decreasing .2% in July, real disposable income – one’s income after inflation adjustments – rose .2% in August. This level of income is 4.4% higher than August of 2009. Despite this rise, however, income in 48 of the 50 states has not recovered to the level before the recession. Additionally, teachers were not among the rise of income because an increase of furlough days in August resulted with payrolls declining at an annual rate of $3.9 billion, according to the Commerce Department [.pdf]. Lastly, consumers spent 2.3% more on energy and gasoline in August than in July – displaying the rising trend of energy and gasoline prices.

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