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RISING Compared to December 2020, personal income increased by 10 percent in January. (U of A System Division of Agriculture image) FAYETTEVILLE, Ark. Personal income rose in January, as did consumer savings and spending on food outside of the home, according to the February Personal Income and Outlays Report from the Bureau of Economic Analysis. Compared to December 2020, personal income increased by 10 percent in January. Personal income “This is quite a large change from one month to another, and it primarily reflects the impact of relief payments to households authorized under the Coronavirus Response and Relief Supplemental Appropriations Act, which went into effect two days after Christmas,” said economist John Anderson. “Government social benefits increased by more than 50 percent in January compared to the prior month.”

United statesUniversity of arkansasJohn andersonBureau of economic analysisUs department of agricultureA system division of agricultureCoronavirus food assistance programLife sciencesUniversity of arkansas system division agricultureSystem divisionFebruary personal incomeOutlays reportCoronavirus responseRelief supplemental appropriations actArkansas system divisionAgricultural economics