Today the U.S. Department of Commerce’s Bureau of Economic Analysis released their monthly personal income data for August 2010. The chart below shows the private sector share of personal income from January 1959 to August 2010.
After rebounding slightly in July, the private sector as a percent of personal income set a new all-time low of 69.66 in August. I was hoping that the private sector would start to break-out of its rut . . . but on the upside, not the downside.
Note: “Supplements to Wages and Salaries” (benefits) in the BEA data are not broken down into “private” sector” versus “government” components. I used the ratio of private wages and salaries to total wages and salaries in order to disaggregate supplements.
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