The U.S. Bureau of Economic Analysis (BEA) reports that personal income increased $78.4 billion, or 0.5%, and disposable personal income (DPI) increased $68.0 billion, or 0.5% last month. In addition, personal consumption expenditures (PCE) increased $107.2 billion, or 0.9%. In February, personal income increased $54.3 billion, or 0.4%, DPI increased $47.6 billion, or 0.4%, and PCE increased $54.7 billion, or 0.5%.
Other findings:
Salaries are on the rise. Private wages and salaries increased $42.3 billion last month, compared with an increase of $17.4 billion in February.
Payrolls in the service industry increased $31.8 billion, compared with an increase of $9.9 billion. Government wages and salaries increased $0.9 billion, compared with an increase of $1.9 billion.
Personal income also shows some gains. Supplements to wages and salaries increased $4.8 billion in March, compared with an increase of $3.3 billion in February.
Business owners are faring well. Â Business income increased $9.3 billion in March, compared with an increase of $4.6 billion in February.
Landlords are doing well. Rental income rose $4.6 billion in March, compared with an increase of $3.3 billion in February. Personal income receipts on assets (personal interest income plus personal dividend income) increased $6.9 billion, compared with an increase of $7.0 billion.