Composition of Personal Income
The Graph of the Week shows the composition of personal income. The graph came from the slide show from Rosemary Marcuss, Deputy Director of the BEA, from the session "Measuring Personal Income" from the NABE 2007 Professional Development Seminar. From the slideshow, personal income is:
- Broad measure of income that includes all sources, monetary and in-kind
- Part of GDP accounts (national income and product accounts)
- More expansively defined than GDP (current production)
- In dollar terms (not adjusted for change in price level)
Compensation excludes Social Security contributions. Income from businesses is called “proprietors' income.”
Read more about this session.