Personal income in the United States rose by $112.3 billion, or 0.4 percent at a monthly rate, in July 2025, according to data released by the U.S. Bureau of Economic Analysis (BEA) on August 29. Disposable personal income, which subtracts personal current taxes from total income, increased by $93.9 billion (0.4 percent), while personal consumption expenditures (PCE) grew by $108.9 billion (0.5 percent).
Personal outlays—which include PCE, personal interest payments, and personal current transfer payments—rose by $110.9 billion for the month. Americans saved a total of $985.6 billion in July, resulting in a personal saving rate of 4.4 percent.
According to BEA estimates, "The increase in current-dollar personal income in July primarily reflected an increase in compensation."
The growth in PCE was driven by higher spending on both services and goods; spending on services increased by $60.2 billion and spending on goods rose by $48.7 billion.
Wages and salaries contributed significantly to the overall rise in income for July, with private wages and salaries up by $77.5 billion—$77.4 billion of that coming from service-producing industries and $0.2 billion from goods-producing industries—and government wages and salaries increasing by $5.1 billion.
Supplements to wages and salaries were also higher for the month, rising by $14.3 billion due mainly to employer contributions for employee pension and insurance funds.
For further information about definitions, statistical conventions, or updates related to these figures, the BEA directs readers to its “Additional Information” page on their website.
The next release covering Personal Income and Outlays for August 2025 is scheduled for September 26 at 8:30 a.m EDT.
"Private wages and salaries increased $77.5 billion, reflecting increases of $77.4 billion in services producing industries and $0.2 billion in goods-producing industries," according to BEA data.
"Government wages and salaries increased $5.1 billion."
"Supplements to wages and salaries increased $14.3 billion (mainly from employer contributions for employee pension and insurance funds)."