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November 17, 2017

CT registers slow growth in personal income; population declines

Personal income rose about 1 percent in Connecticut in 2016 as the state’s population stagnated, according to new federal data.

The average personal income in Connecticut was $69,311 in 2016, up slightly from $68,329 recorded a year earlier, according to the U.S. Department of Commerce's Bureau of Economic Analysis (BEA).

Meantime, the state’s population shrank to 3,576,452 residents last year, down a little over 8,000 residents from 2015, the BEA data show.

Hartford County's personal income just over 1 percent, while its population slipped by three-tenths of a percent. Windham County's per capita personal income level grew the most, at 2.7 percent, even though its population dropped four-tenths of a percent, BEA statistics show. Middlesex County’s personal income grew the least, at five-tenths of a percent.

The state of Maryland posted the most personal income growth, at 3.2 percent, while the state of Wyoming fared the worst, with a drop of just over 2 percent.

The personal income statistics recorded by the BEA are "per-capita" personal income statistics that are adjusted for population size.

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