This section shows the Torrington Connecticut economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Torrington shows it has a Median earnings of $50,669 which is the smallest in terms of median earnings per worker of all the other places in the local area. The city with the highest median earnings per worker in the area is Collinsville CDP which shows a median earnings of $88,317 (74.3% larger). Comparing median earnings per worker to the United States average of $53,269, Torrington is only about 5.1% smaller. Also, versus the state of Connecticut, median earnings per worker of $65,697, Torrington is approximately three-fourths the size.
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 $63,135 which is in the center range of other places in the local area. The city with the highest median household income in the area is Litchfield which depicts a median income of $108,000 (71.1% larger). Comparing median household income to the United States average of $69,021, Torrington is about 9.3% smaller. Also, in contrast to the state of Connecticut, median household income of $83,572, Torrington is approximately three-fourths the size.
The next section examines a variety of different income statistics for the Torrington metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings between $10,000 and $14,999 at 7.6% of the total and is ranked #1. Dividing median annual worker earnings by the average number of hours worked in a year in Figure 4 shows that it has a Avg Hrly Earnings of $25.78 which is the smallest in terms of average hourly earnings of all the other places in the surrounding region. The city with the highest average hourly earnings in the area is Collinsville CDP which shows an average hourly earnings of $45.66 (77.1% larger). Comparing average hourly earnings to the United States average of $26.40, Torrington is only about 2.4% smaller. Also, compared to the state of Connecticut, average hourly earnings of $33.25, Torrington is approximately three-fourths the size.
Figure 5 examines the number of self employed people in the Torrington metro area based on the number of people who reported any self employment income. Torrington depicts it has a Self Employed of 9.6% which is less than most other places in the greater region. The city with the highest percentage of people self employed in the area is Collinsville CDP which shows a percentage self employed of 15.9% (66.1% larger).
The next chart (Figure 7) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 26.8% which is the second smallest when sorted by households with retirement income of all the other places in the greater region. The city with the highest households with retirement income in the area is Northwest Harwinton CDP which depicts a households with retirement income of 39.9% (49.1% larger).
The percentage of full-time workers are compared to the number of part-time workers in Figure 8. Torrington shows full time employees approximately 3.1 times bigger as the part time employees.
Similar to the last chart is Figure 9 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. Torrington depicts it has the hightest entrepreneurs of 27% for the self employed in construction aggregate.
Figure 10 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Torrington depicts it has the hightest cost of 120.7 for the cost of grocery items group.
Torrington Connecticut Poverty Charts
In Figure 11 the percentage of people earning less than the poverty level is shown and compared across the group of places. Torrington depicts it has a Percent of Population In Poverty of 13.6% which is the third most percent of people earning less than the poverty level of all other places in the greater Torrington region. The city with the highest percent of people earning less than the poverty level in the area is Winsted CDP which shows a percent of people in poverty of 17.4% (27.9% larger).
Additionally, Figure 12 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) Torrington depicts it has a Public Assistance Percent of 14.4% which is the third most households with public assistance of all other places in the greater Torrington region. The city with the highest households with public assistance in the area is Winsted CDP which shows a households with public assistance of 18.4% (27.9% larger).
Torrington Connecticut Labor Force Charts
The table in Figure 13, shows Torrington employment data in terms of job categories and salary data.
The next two charts look at 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 2022, the Covid 19 recession occurred and affects this metric. The monthly unemployment rate shows that from February 2017 to before the disasterous Covid-19 virus Pandemic it went from 6.7% to 3.5% in December 2019. This represents a decrease in the monthly unemployment rate of 47.8%. Since that time, the monthly unemployment rate has gone to 3.5%. This represents an increase in the monthly unemployment rate of very little.
Torrington Connecticut Jobs Charts
In the jobs section of economic activity charts in Figure 15 shows the average annual earnings for very high level job industry categories for full time and year round employed.
Figure 16 shows the average median earnings for different categories of jobs.
Torrington Connecticut Work Commute Charts
Figure 18 shows a more detailed view of how the population commutes to work for (for example to downtown Torrington or elsewhere.) Torrington has the largest proportion of people who bike at 0% of the total and is ranked #1.
Figure 19 is provided for comparison purposes to the previous chart. It shows how people get to work overall on average in the United States.
The average commute time is shown in Figure 21. Torrington shows it has a Avg Commute Time of 26 which is less than most other places in the greater region.
Cities marked with an asterisk ("*") should resemble a city or town but do not have their own government (i.e. Mayor, City Council, etc.) These places should be recognizable by the local community but their boundaries have no legal status. Technically these include both Census Designated Places (CDP) and Census County Divisions (CCD) which are defined by the Census Bureau along with local authorities. (For more information, see:
Census Designated Place or "CDP")
and Census County Division "CCD".)
For comparison purposes, the US national average and the state average value are provided. Additionally, the "Combined Statistical Area" or CSA is shown that is closest to the city, county, or zip code shown. A CSA is a large grouping of adjacent metropolitan areas that identified by the Census Bureau based on social and economic ties. (See: Combined Statistical Area)
Data sources - Mouse over icon in upper right corner of each chart for information.