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Statement from Commerce Under Secretary Rebecca Blank on Personal Income and Outlays in March 2010

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FOR IMMEDIATE RELEASE

Monday, May 3, 2010

CONTACT OFFICE OF PUBLIC AFFAIRS

202-482-4883

Statement from Commerce Under Secretary Rebecca Blank on Personal Income and Outlays in March 2010

The U.S. Commerce Department’s Bureau of Economic Analysis today released personal income and outlays data for March 2010. Personal income increased 0.3 percent in March, and real disposable personal income rose 0.2 percent. Real personal consumption expenditures increased 0.5 percent in March.

“Today’s personal income data, particularly the growth in employee compensation, indicates that the recovery is taking hold across America,” said U.S. Commerce Department Under Secretary for Economic Affairs Rebecca Blank. “While today’s report is welcome news, it does not change the imperative to help every American who has lost their job. America’s businesses will always be our engines of job growth. That is precisely why President Obama has tried to create the conditions businesses need to generate jobs: by cutting taxes for small businesses, backing loans supporting billions of dollars in lending and making targeted investments in the areas of our economy where the potential for job growth is greatest.” (Release—PDF)