January Income Boost: Your Income Grew Last Month

income boost
income boost

If you're feeling a bit more flush than you did last month, that's because of the income boost felt nationwide. The average American income rose about 1 percent last month -- the largest leap it's taken in almost two years, according to the United States Department of Commerce.

"Personal income surged in January, largely as a result of the Middle Class Tax Relief Act that the president signed in December," said U.S. Commerce Department Chief Economist Mark Doms. "By lowering employee contributions for Social Security, workers have more take-home pay. This increased spending capacity should boost the U.S. economy and employment in 2011."