Yesterday the U.S. Department of Commerce’s Bureau of Economic Analysis released their monthly personal income data for July 2011 (pdf). The chart below shows the private sector share of personal income from January 1959 to June 2011. For July, the private sector share of personal income was 70.65 percent–up 0.08 percentage points from June. While the trend has been up for the last few months, the current level is still well below the pre-Great Recession level of 74.48 percent in June 2007. And this is before we head into the double-dip recession.
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