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PI: The abbreviation for personal income, which is the total income received by the members of the domestic household sector, which may or may not be earned from productive activities during a given period of time, usually one year. Personal income is one of three measures of income reported quarterly (every three months) in the National Income and Product Accounts maintained by the Bureau of Economic Analysis.

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PRINTERS UNION: This craft union among printers created in 1852 was the first permanent national union in the United States. While labor unions had be legal since the Commonwealth versus Hunt decision in 1842, most unions were craft unions and limited to labor markets in specific cities. The shoemakers union in Boston was unrelated to the shoemakers union in Philadelphia. The printers union was the first of several national craft unions established in the ensuing decade. As a national union, it controlled significantly more labor and thus exerted greater market control.

     See also | labor union | craft union | Commonwealth versus Hunt | market control | American Federation of Labor |


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PERSONAL TAX AND NONTAX PAYMENTS

The official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis measuring the personal income taxes paid to the government sector on personal income received by the household sector. Personal tax and nontax payments are subtracted from personal income (PI) to calculate disposable income (DI). Personal tax and nontax payments are about 15 percent of personal income and about 13 percent of gross domestic product.

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