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  • Economic Calendar Terms

    US Personal income

    US Department of Commerce
    1401 Constitution Avenue
    NW, Washington, DC 20230

    The personal income account shows the sources of income of individuals, enterprises that are owned by households, and nonprofit institutions that serve households. Personal income is the current income received by persons from all sources, that is, from their contributions to production which is compensation of employees received for their labor, from transfers from government and businesses, and from the ownership of financial assets (such as interest and dividends). Contributions for government social insurance is deducted from the measurement of personal income. The largest source of income for individuals is compensation which they receive for their labor. It includes employee and employer contributions to retirement and pension plans.