Personal income
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- Income received by persons from all sources. It includes income received from participation in production as well as from government and business transfer payments. It is the sum of compensation of employees (received), supplements to wages and salaries, proprietors' income with inventory valuation adjustment (IVA) and capital consumption adjustment (CCAdj), rental income of persons with CCAdj, personal income receipts on assets, and personal current transfer receipts, less contributions for government social insurance. Related terms: Local area personal income, State personal income.
Bureau of Economic Analysis - Cite This Source - This Definition - Compensation of employees, Compensation of employees (paid), Compensation of employees (received), Employer contributions for employee pension and insurance funds, Local area personal income, State personal income, Supplements to wages and salaries, Wage and salary accruals, Wage and salary accruals and disbursements, Wage and salary disbursements