US personal income drops 0.1% in Jan

WASHINGTON - US personal income decreased $23.8 billion in January, or 0.1 percent month-on-month, the US Department of Commerce said on Friday.

The department's data also showed that the American people's disposable personal income decreased $35.1 billion dollars in January, down 0.2 percent compared with the previous month.

"The decrease in personal income in January primarily reflected decreases in personal dividend income, farm proprietors' income, and personal interest income," the department said.

Those decreases, the department added, were partially offset by increases in social security benefit payments and other government social benefits to persons, which includes the Child Tax Credit and the Affordable Care Act refundable tax credit.