Personal income, a measure of Americans’ total wages and earnings, rose $8.5 billion in November, an increase of 0.1 percent, according to the Bureau of Economic Analysis.Meanwhile, disposable income fell $5 billion and personal consumption expenditures increased $13 billion.
Americans were saving less money in November. The personal savings rate fell from 3.6 percent to 3.5 percent.
Goods-producing industries’ payrolls decreased $6.7 billion after an increase of $8.6 billion in October. Manufacturing payrolls fell $6.9 billion compared to an increase of $6.8 billion a month ago. And services-producing industries’ payrolls fell $300 million, compared to an increase of $28.5 billion.
