FX.co ★ US Personal Income Stalls in April

US personal income was flat month-over-month in April 2026, undershooting market expectations for a 0.4% increase and following a slightly downwardly revised 0.5% gain in March. The stagnation was driven primarily by a $61.7 billion decline in farm proprietors’ income, reflecting reduced payments under the Farmer Bridge Assistance Program after applications closed in mid-April. Proprietors’ income with inventory valuation and capital consumption adjustments also fell, by $57.8 billion.

These declines were partly offset by a $39.6 billion increase in compensation, including a $32.4 billion rise in wages and salaries. Within that, private-sector wages and salaries rose by $28.5 billion, while government wages and salaries increased by $3.9 billion.

Meanwhile, disposable personal income edged down 0.1%, or $19.9 billion, after a 0.5% increase in March. In real terms, disposable personal income dropped 0.5%, following an upwardly revised 0.2% decline in the previous month.