Pandemic aid created the biggest jump ever in US disposable income ...Middle East

Quartz - Economy
Pandemic aid created the biggest jump ever in US disposable income
source : Quartz ( Middle East ) () 32
The disposable income of Americans rose by 67%, compounded annually, during the first quarter of 2021—the largest such jump ever recorded. But this wouldn’t have happened without the pandemic relief bills passed in December and March, which disbursed relief payments and topped up unemployment benefits.New data for the quarter, released by the Bureau of Economic Analysis, showed that the US government’s stimulus payments almost wholly accounted for a $2.36 trillion bump in personal disposable income in the first quarter of 2021, even as wages from work stayed nearly flat through that period. Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.

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