June 22, 2018

CT income jumps 4.6%

HBJ File Photo
HBJ File Photo
The Hartford skyline.

Connecticut earners collected higher salaries during the first quarter with income growth of 4.6 percent, outpacing the nation's increase over the period, according to the U.S. Bureau of Economic Analysis.

Connecticut's increase is its largest in over three years, ranking No. 27 nationally in growth. For the quarter ended March 31, Connecticut workers earned $256.9 billion, the BEA said Thursday.

BEA's report says the nation's personal income grew by 4.3 percent, compared to 4.7 percent in the fourth quarter in 2017.

New England's income rose by 4.8 percent during the first quarter led by Vermont and Massachusetts, where income grew by 5.5 and 5 percent, respectively.

The country's income growth in the first quarter outpaced its annual growth in recent years, as the U.S. averaged hikes of 3.1 percent in 2017 and 2.3 percent in 2016, the report says.

For the quarter, the report says Washington, Utah and Delaware recorded the largest income growth of 7.4, 6 and 5 percent, respectively.

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