CT continue to lead nation in income, ut wealth poorl ditriuted Ana Radelat, ctmirror.org eptemer 30th, 2015 Wahington – Connecticut continue to lead the nation when it come to peronal income, federal economit a, ut other report how the tate i alo No. 1 when it come to the uneven ditriution of that wealth etween the ver rich and everone ele. The U.. ureau of conomic Anali aid Wedneda that Connecticut ene幻ted from an increae of 1.1 percent in peronal income etween the 幻rt and econd quarter of thi ear -- etter than the national average of 0.9 percent. The A a peronal income grew in ever tate except Oklahoma in the econd quarter. Wahington tate experienced the highet growth rate, 1.5 percent. The A alo aid that in 2014, Connecticut had a per capita peronal income of $64,864, the highet in the nation. That per capita income wa 141 percent of the national average, $46,049. ut, according to the conomic Polic Intitute, Connecticut alo lead the nation in the uneven wa that income i ditriuted. 2 Items added Thi chart the conomic Polic Intitute how that Connecticut' mot wealth hold a greater hare of the tate' income than their counterpart do nationall. In the “Increaingl Unequal tate of America," releaed earlier thi ear, the PI aid that focuing on inequalit in 2012, the mot recent ear for which tate data are availale,” New York and Connecticut had the larget gap etween the average income of the top 1 percent and the average income of the ottom 99 percent.” “In oth tate the top 1 percent earned average income more than 48 time thoe of the ottom 99 percent. Thi reect in part the relative concentration of the 幻nancial ector in and eond the New York Cit metropolitan area,” the report aid. The PI’ report aid that, after adjuting for ination, the income of wealthiet 1 percent of Connecticut’ reident grew 35 percent etween 2009 and 2012, while the ret of the tate’ reident experience an actual drop in peronal income of 5.4 percent. “Clearl what’ tand out aout Connecticut i that it ha had a huge amount of growth among high-earner, not onl ince the recover ut in the lat 35 ear and that’ ecaue of the 幻nancial ector,” aid Mark Price, an author of the PI report. He expect that trend, which he called “the mot extreme of what we’ve een,” to continue. The A’ releae on peronal income aid Connecticut’ aid the tate’ income growth wa driven the 幻nancial and inurance ector. The PI’ data wa derived from Internal Revenue ervice 幻ling, and the latet availale information from the IR i from 2012. Price aid he hope the trend toward a wider and wider wealth gap ha “revered a it” ince 2012, with mot Connecticut reident experiencing a light poitive growth in income in 2015 a the econom ha grown tronger. “ut the meteoric rie in the income of the wealth will continue,” Price aid. dward McKenna, an economic profeor at Connecticut College, alo aid “everod i not ene幻tting” from the growth of peronal income in the nation, which wa 4.4 percent for Connecticut and the nation a a whole lat ear. McKenna aid concentration of the nation’ income growth among the wealthiet American hurt the econom ecaue the rich are more likel to ave their mone than middle cla or low-income American. A low pending rate depree the econom, McKenna aid, and depree growth of the gro dometic product or GDP. Connecticut i lagging the nation in GDP. “The propect of growth in the future ecome le likel and unemploment in the future ecome more likel,” McKenna aid of the uneven trend in income ditriution. He alo aid "it certainl would not e urpriing to determine thee kind of development are taking place in Connecticut." The A alo aid peronal income i not ditriuted evenl within geographic region of Connecticut. In 2014, peronal income in the ridgeport-tamford-Norwalk metropolitan area wa $82,009, the highet in the tate, the A aid. The Norwich-New London area peronal income wa $50, 322. ut the lowet peronal income wa earned in the northeat ection of the tate that i part of the Worceter, Ma., metropolitan area. Peronal income in that region wa $47,462 lat ear.
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