Personal income in the US increased by 0.2% month over month to $27,708 billion in September 2026, falling short of market expectations and slowing from August’s 0.3% rise. The $54.5 billion increase was largely driven by higher employee compensation, which grew 0.3%, the same pace as in August. Within compensation, private-sector wages and salaries rose 0.2%, easing from a 0.3% gain in the prior month.
Government social benefits also added to the overall increase, rising 0.3% after a 0.4% gain in August, as Medicare benefits advanced 0.8%, down from 0.9% previously. Disposable personal income grew 0.2%, compared with 0.3% in August. However, after adjusting for inflation, real disposable personal income declined 0.3%, following a flat reading in the previous month.
