Personal income decreased -4.2 percent (monthly rate) in May. https://www.bea.gov/data/income-saving/personal-income

The breakout of current transfer receipts looking very different from last's month.

There is still some effect from the economic impact payments. But Pandemic Unemployment Compensation Payments saw a big jump, PUA rising too.

Wow, Pandemic Unemployment Compensation Payments jumped to 4.2% of total personal income in May. Economic impact payments still there at 3.1%.

So what are people doing with the money they have? Still saving at a high level.

Some recovery for consumer spending. But still a ways to go to return to pre-COVID era.

Definite improvement here compared to last month's report!

So what's all this mean? People are starting to spend more, though more cautiously when compared to pre-COVID times. The income charts are evidence that the transfer programs did/are making a difference.

It's also evidence of what a difference the $600 add on is making. The 4.2% of personal income from FPUC (Pandemic Unemployment Compensation Payments) is substantial for holding the economy up right now.