Report: Connecticut lags much of US in personal income rise
HARTFORD — New federal statistics show Connecticut residents failed to see their incomes rise as much last year as most other Americans did.
The U.S. Commerce Department reported Wednesday that Connecticut was 39th among the states in percent change in personal income from 2013 to 2014. Personal income is the sum of net earnings, property income and transfer payments such as pensions.
Connecticut’s 3 percent rise from 2013 to 2014 also lagged other New England states except Maine, where it rose 2.9 percent.
Unemployment in Connecticut has been consistently higher than joblessness nationwide. And well-paid manufacturing and insurance jobs have eroded.
Connecticut was No. 1 in in the United States in per-person income last year, at $62,467.
Mark LeClair, a Fairfield University economics professor, said Connecticut’s strength is its wealth, not income.