In June, personal income increased a seasonally adjusted 0.1%, the smallest gain since last November, the Commerce Department said Tuesday.
Half the increase stemmed from higher government payments for social programs such as Medicaid and unemployment compensation. Wages and salaries actually fell.
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As a result, the individual savings rate for June jumped to highest level of 2011 — 5.4% of disposable income, up from 5.0% in May.