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The increase in government social benefits was led by Medicare and Medicaid. The increase in personal income receipts on assets was led by personal interest income. The increase in proprietors' income was in farm income, reflecting increased crop and livestock prices. Within compensation, the increase reflected increases in both private and government wages and salaries. The increase in personal income in March primarily reflected an increase in compensation, proprietors’ income, personal income receipts on assets, and government social benefits (table 3).

For more information, see Effects of Selected Federal Pandemic Response Programs on Personal Income.

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The full economic effects of the COVID-19 pandemic cannot be quantified in the personal income and outlays estimate because the impacts are generally embedded in source data and cannot be separately identified.

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