THE ECONOMY

THE ECONOMY

US PERSONAL INCOME

ROSE 0.9 PERCENT IN FEBRUARYU.S. personal income rose 0.9 percent in February to a seasonally adjusted annual rate of $4.636 trillion, following a revised 0.7 percent increase in January to a $4.595 trillion pace, the Commerce Department said Thursday.

Commerce earlier reported a 0.8 percent rise in January income. Personal consumption expenditures rose 0.4 percent to an annual rate of $3.632 trillion last month after a revised 1.0 percent gain in January, originally reported as up 0.6 percent.

Commerce said that the February and January increases in personal income were affected by several special factors.

Subsidy payments to farm proprietors raised the February change while lowering the January change, Commerce said.

Likewise a pay raise for federal government employees helped boost the changes in both months. Excluding these special factors, Commerce said personal income was up 0.7 percent in February and 0.4 percent in January.

The February rate of savings as a percentage of disposable personal income was not included in this report, but according to calculations made

from available February numbers, the rate stood at 5.7 percent.

The January rate, which was released by Commerce and based on a three- month moving average, was 5.5 percent.

STATE JOBLESS CLAIMS

DROP 10,000 IN WEEK

WASHINGTON - New claims for state unemployment insurance benefits were made by 350,000 people during the week ended March 17, down 10,000 on a seasonally adjusted basis from the previous week, the U.S. Labor Department said Thursday.

Initial claims were up 17,000 in the week ended March 10 to a seasonally adjusted revised 360,000, Labor said.

In the week ended March 10, 2.308 million people were reported claiming unemployment benefits under regular state programs, down 67,000 from the previous week's 2.375 million, Labor said.

The rate of insured unemployment during the week ended March 10 stood at 2.2 percent, down from 2.3 percent the previous week.