NOTE. -- Monthly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Month-to-month dollar changes are differences between these published estimates. Month-to-month percent changes are calculated from unrounded data and are not annualized. \u201cReal\u201d estimates are in chained (2005) dollars.

Personal income decreased $159.8 billion, or 1.3 percent, and disposable personal income (DPI)
decreased $143.8 billion, or 1.3 percent, in June, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $41.4 billion, or 0.4 percent. In May,
personal income increased $155.1 billion, or 1.3 percent, DPI increased $168.7 billion, or 1.6
percent, and PCE increased $9.0 billion, or 0.1 percent, based on revised estimates.

This release presents revised estimates of personal income and its disposition that reflect the
comprehensive revision of the national income and product accounts released on July 31. Tables
containing historical data will be posted when they become available on BEA\u2019s Web site. For more
information on the revision, see the text and box on pages 5 and 6.

The June change in personal income reflects selected provisions of the American Recovery and Reinvestment Act of 2009, which boosted personal current transfer receipts in May much more than in June. Excluding these receipts, which are discussed more fully below, personal income decreased $7.8 billion, or 0.1 percent, in June, following a decrease of $2.5 billion, or less than 0.1 percent, in May.

Private wage and salary disbursements decreased $28.6 billion in June, compared with a decrease
of $11.3 billion in May. Goods-producing industries' payrolls decreased $11.1 billion, compared with
a decrease of $10.9 billion; manufacturing payrolls decreased $6.7 billion, compared with a decrease
of $8.4 billion. Services-producing industries' payrolls decreased $17.5 billion, compared with a
decrease of $0.4 billion. Government wage and salary disbursements increased $2.8 billion,
compared with an increase of $4.3 billion.

Proprietors' income decreased $1.0 billion in June, compared with a decrease of $1.9 billion in
May. Farm proprietors' income decreased $0.9 billion, in contrast to an increase of $0.6 billion.
Nonfarm proprietors' income decreased $0.2 billion, compared with a decrease of $2.5 billion.

Rental income of persons increased $2.8 billion in June, compared with an increase of $3.2
billion in May. Personal income receipts on assets (personal interest income plus personal dividend
income) decreased $7.3 billion in June, the same decrease as in May.

Personal current transfer receipts decreased $131.7 billion in June, in contrast to an increase of
$166.1 billion in May. The May change had reflected one-time payments of $250 to eligible
individuals receiving social security, supplemental security income, and railroad retirement benefits,
which boosted personal current transfers by $157.6 billion at an annual rate in May. The June change
reflected one-time payments of $250 to eligible individuals receiving veteran benefits, which boosted
the level of personal current transfer receipts by $5.6 billion in June.