By Mark Memmott
American's personal incomes rose 1.4% in May from April, the Commerce Department just reported.
And as incomes took their biggest jump in a year, much of the money went into savings. Commerce says the savings rate rose to 6.9% -- the highest it's been since December 1993, according to the Associated Press. Definition of the savings rate: Savings as a percentage of disposable personal income.
categories: National News
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