The State of Connecticut Income Charts

This section shows the Connecticut economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Connecticut shows it has a Median earnings of $65,697 which is the second most median earnings of all the states in the greater Connecticut region. The state with the highest median earnings per worker in the group is Massachusetts which shows a median earnings of $69,105 (only about 5.2% larger).

In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $83,572 which is the second most median income of all the states in the greater Connecticut region. The state with the highest median household income in the group is Massachusetts which shows a median income of $89,026 (6.5% larger).

The next section examines a variety of different income statistics for the Connecticut metropolitan area. In Figure 3 we see that it has the smallest proportion of earnings between $20,000 and $49,999 at 20.7% of the total.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 38.0 which is the third most average hours of all other states in the greater Connecticut region. The state with the highest average hours in the group is New Hampshire which depicts an average hours of 38.5 ( only slightly larger). Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has a Avg Hrly Earnings of $33.25 which is the second most average hourly earnings of all the states in the greater Connecticut region. The state with the highest average hourly earnings in the group is Massachusetts which shows an average hourly earnings of $34.97 (only about 5.2% larger).

Figure 7 examines the number of self employed people in the Connecticut metro area based on the number of people who reported any self employment income. Connecticut shows it has a Self Employed of 11.8% which is in the mid range of other states in the local area. The state with the highest percentage of people self employed in the group is Vermont which depicts a percentage self employed of 15.5% (31.5% larger).

Turning our attention to Figure 8, the median household income by age group, it has one of the largest proportions of median income-under 25 years at $87,411 of the total and is ranked #3. Only #2 New Hampshire ($92,836), and #1 Massachusetts ($101,601) are larger. Second, it has one of the largest proportions of median income-25 to 44 years at $104,155 of the total and is ranked #2. The only larger state being Massachusetts with $109,641. Third, it has the largest proportion of median income-45 to 64 years at $60,256 of the total and is ranked #1.

Figure 9 breaks down the source of income and Connecticut has the smallest proportion of social security at 0.5% of the total.

The next chart (Figure 11) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 22.8% which is in the middle range of other states in the metro area. The state with the highest households with retirement income in the group is Maine which shows a households with retirement income of 24.1% (only about 5.8% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has one of the largest proportions of overall family income at $116,690 of the total and is ranked #2. The only larger state being Massachusetts with $121,093. Second, it has in the mid range of other states in the metro area in order of white family income at $67,867 of the total. Third, it has one of the largest proportions of black family income at $59,471 of the total and is ranked #3. Only #2 Vermont ($61,458), and #1 New Hampshire ($93,750) are larger. Also, it has one of the largest proportions of american indian family income at $124,325 of the total and is ranked #2. The only larger state being Massachusetts with $127,423. In addition, it has less than most other states in the area as measured by hawaiian family income at $56,106 of the total.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Connecticut shows it has the hightest cost of 120.7 for the cost of grocery items group.

The State of Connecticut Labor Force Charts

The next two charts look at very recent, monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2020, the Covid 19 recession or great recession occurred and affects this metric. . It shows that from January 2010 to before the disasterous Coronavirus Pandemic the monthly unemployment rate went from 9.5% to 4.2% in March 2020. This represents a decrease in the monthly unemployment rate of 55.8%. Since that time, the monthly unemployment rate has gone to 3.9% This represents a decrease in the monthly unemployment rate of 7.1%. In Figure 15 the monthly labor force participation which are people actively looking for work are also defined as unemployed but do not include people who have given up looking for work. . It shows that from February 2010 to before the Coronavirus Pandemic the monthly labor force participation went from 1,879,796 to 1,955,108 in January 2020. This represents an increase in the monthly labor force participation of 4.0%. Since that time, the monthly labor force participation has gone to 1,902,453 This represents a decrease in the monthly labor force participation of 2.7%.

The next two charts look at the annual unemployment rate/eligible for unemployment benefits and is based on the American Community survey. Figure 16 shows Connecticut shows it has a Unemployment Rate of 4.0% which is more than all other states in the metropolitan area. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. the state of shows it has a Labor Force Participation of 66.0% which is the third most participation rates of all other states in the greater Connecticut region.

The Components of Employment Status graph in Figure 18 shows the composition of the labor force broken down by employed, unemployed, and not in the labor force (but 16 years of age or older). Connecticut has the largest proportion of employed at 4.0% of the total and is ranked #1.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Connecticut shows full time employees approximately 3.0 times bigger as the part time employees.

The next employment related data item is shown in Figure 21 which is the percentage of families with only a single earner in the greater Connecticut area. Connecticut depicts it has a Single Earner Families of 26.5% which is the highest of all states in the greater Connecticut region. The percentage of families with no one working is depicted in Figure 22. Connecticut depicts it has a Families with No One Working of 14.5% which is less than most other states in the surrounding region. The state with the highest families with no one working in the group is Maine which indicates a families with no worker of 18.9% (30.3% larger).

The State of Connecticut Poverty Charts

The next section details economy analysis about poverty for residents of the Connecticut community. This performance can be enhanced by government programs such as economic opportunity zone to influence manufacturing, job growth, economic opportunity an hopefully lead to economic recovery after the recent Covid 19 recession. In Figure 23 the total number of people earning less than the poverty level are shown. Connecticut shows it has a Total In Poverty of 351,476 which is the second most total people earning less than the poverty level of all the states in the greater Connecticut region. The state with the highest total people earning less than the poverty level in the group is Massachusetts which depicts a total people earning less than the poverty level of 668,780 (about twice as large).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Connecticut shows it has a Percent of Population In Poverty of 10.0% which is in the mid point range of other states in the local area. The state with the highest percent of people earning less than the poverty level in the group is Rhode Island which depicts a percent of people in poverty of 11.3% (12.2% larger).

In Figure 25 people who are in poverty are broken out by age group. Connecticut has the largest proportion of person in poverty under 12 years at 9% of the total and is ranked #1. Second, it has the largest proportion of person in poverty 18 to 34 years at 21% of the total and is ranked #1. Third, it has the smallest proportion of person in poverty 55 to 64 years at 13% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Connecticut has the smallest proportion of american indian poverty rate at 9% of the total. Second, it has the largest proportion of asian poverty rate at 27% of the total and is ranked #1. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Connecticut has the largest proportion of people who are in poverty and employed at 5.9% of the total and is ranked #1. Additionally, Figure 30 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) the state of depicts it has a Public Assistance Percent of 12.5% which is in the mid range of other states in the local area. The state with the highest households with public assistance in the group is Rhode Island which depicts a households with public assistance of 16.0% (28.0% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). the state of shows it has a Gini Index of 49.7% which is the most of all states in the greater Connecticut region.

The State of Connecticut Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Connecticut or elsewhere.) Connecticut has the largest proportion of people who take the Long-distance train or commuter rail at 2% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Connecticut has the smallest proportion of people who leave for work between 630 am to 7am at 14% of the total. Second, it has the largest proportion of people who leave for work between 8am to 830am at 7% of the total and is ranked #1.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Connecticut has the percentage of people with commute time of less than 5 minutesutes less than most other states in the greater region at 9% of the total. Second, it has the smallest proportion of people with commute time between 40 to 44 minutes at 7% of the total. Third, it has the largest proportion of people with commute time between 60 to 89 minutes at 3% of the total and is ranked #1.

The average commute time is shown in Figure 37. the state of depicts it has a Avg Commute Time of 27 which is the third most average commute time of all other states in the greater Connecticut region. Figure 38 shows the difference between male versus female commuting time. Connecticut shows average commute time in minutes for men 27.8% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Connecticut has the percentage of 1 vehicle available less than most other states in the greater region at 42% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) the state of depicts it has a Work in city or place where live of 33% which is the second smallest when sorted by people who both work and live in the same city of all the other states in the metro area. The state with the highest people who both work and live in the same city in the group is Maine which depicts a people who both work and live in the same city of 43% (31.7% larger).

The State of Connecticut Jobs Charts

The next to charts break out the median earnings for major job categories for men and women. Figure 46 shows the median earnings of men for the job categories. the state of shows it has the hightest median earnings of $109,316 for the management, business, and financial occupations category. Similarly, Figure 47 shows the median earnings of women for the job categories and the state of shows it has the hightest median earnings of $84,888 for the earnings-computer, engineering, and science occupations aggregate. The table in Figure 48, shows Connecticut employment data in terms of job categories and salary data.

The State of Connecticut Self Employment Charts

Figure 49 shows economic activity in terms of the number of people who are self employed in incorporated local business by industry. the state of shows it has the hightest entrepreneurs of 53% for the self employed management, business, science, and arts businesses category.

Similar to the last chart is Figure 50 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. the state of depicts it has the hightest entrepreneurs of 25% for the self employed in professional, scientific, management, administrative services group.

In Figure 51 the average annual self employment/entrepreneur income is shown. the state of depicts it has a Self Employment Income of $52,356 which is the highest of all states in the greater Connecticut region.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Connecticut shows total number of self-employed men 77.5% larger as the total number of self-employed women.