It's Official: Personal Income Is At A Record, And Americans Are Returning To Work

You may never know it, but Personal Income in the United States
has once again powered to new all-time highs - $12,897.3
billion.

But that's in nominal terms, you say. It, in fact, is just
shy from its real all-time highs, which were actually made in the
deflationary spikes in 2008:

The most impressive statistic of today's Personal Income report,
however, is Personal Income Excluding Current Transfer Receipts
(chained 2005 dollars) -- up $101.8 billion dollars (SAAR) m/m,
marking the best gain since 2005.

It's very plain, loud and clear: people are getting back to
work, earning more money, and have better buying power than at
any point in this recovery. It also suggests that the
payroll growth in the last few months has been severely
understated, and will likely be revised much higher.
Confirming this suspicion is income tax withholding up
20.88% year over year.