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Vol XX,III No.12 September/October 2016

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Nation’s Income Gains Strong, But Connecticut’s Lag Far Behind

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CONNTACT.COM

THE BR EAD

6th Lowest Poverty Rate and 7th Highest Median Income, But Smallest Progress

WI NN ERS

SURVEY: Connecticut – Very Bad Place To Be Hispanic

Four That Make It They Bake it – We Eat it – It’s Great!!! Page 12

Al Cimino Is In ent His 30th Year sid as Owner of Pre rd Apicella’s Bakery ew Reco N U’s The SCS On Photo: Clytie Sadler

Editor & Publisher Mitchell Young Editorial Manager Rachel Bergman Design Consultant Terry Wells Graphics Manager Matt Ford Publisher’s Representative Robin Kroopnick

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ashington – The U.S. Census Bureau’s good news that median income rose significantly in the United States last year wasn’t as cheerful for Connecticut. The nation had a robust increase of 5.2 percent in household median income.The census said no state had a decrease in growth and 39 had statistically significant increases in 2015 over 2014. Of those states with significant increases, Connecticut had the

By Ana Radelat

The poverty rate declined in Fairfield, Hartford, Litchfield, Middlesex and New London counties, but there was no change in Tolland County and increases in New Haven and Windham counties, according to an earlier analysis by Trend CT. The median income in Connecticut in 2015 was up by $1,211 from the year before to $71,346, one of the highest in the nation. Maryland led the nation with a median income of $75,847.

Contributors Rachel Bergman Emili Lanno Taylor Richards Derek Torrellas

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Meanwhile, there was little growth – and even a reduction of growth – in several middle-income brackets. The percentage of households earning $25,000 to $34,999 fell from 6.3 percent to 5.7 percent. Those earning $35,000 to $49,999 stayed flat at 9.4 percent, and those making $50,000 to $74,999 slipped from 15.3 percent to 15.1 percent of Connecticut households. There was also a reduction in the number of households earning $75,000 to $99,999 ���������������� – �������������� from 15.5 percent to 14.5 percent. But there was growth in all higher brackets.

An Income Gap

Claudia Ward-de León Photography Steve Blazo Steve Cooper Derek Torrellas Lesley Roy Clytie Sadler

ber of families earning between $10,000 and $14,999.

UCONN Economics Professor Cartensen: The rich are getting richer, other Nutmeggers stuck in neutral.

CBIA VP and economist, Goia: Slow growth numbers should be expected in Connecticut.

smallest rate of household median income growth, just 1.8 percent. And not everybody benefited from Connecticut’s modest income growth.

But median income in Connecticut varied widely depending on where you lived, from a high of $86,414 in Fairfield County to a low of $62,905 in Windham County.

“While Connecticut still boasts the sixth lowest poverty rates in the United States, and only five states and Washington, D.C. have higher median household incomes, little progress was made in returning to pre-recession levels: statewide poverty remained stuck, and incomes inched upwards slower than most of the country,” said an analysis by Connecticut Voices for Children of the census bureau’s latest American Community Survey results.

And Litchfield County experienced a decrease in median income, falling from $73,816 in 2014 to $70,667 in 2015. The census also said there were changes in the proportion of Connecticut families in each income bracket. There was no change in the percentage of Connecticut families earning $10,000 or less, or those earning $15,000 to $24,999. There was a small increase in the num-

University of Connecticut economist Fred Carstensen said Connecticut is still struggling with income inequality. “Virtually all of the economic growth has been captured by the higher income brackets,” he said. “Connecticut is therefore becoming more divided by income even as overall there is modest improvement.” The census report is a snapshot of Connecticut’s demographics at one point in time. Carstensen said he is concerned there is a further “hollowing out” of Connecticut’s middle class. The census bureau said Connecticut has had a slight improvement in its “Gini index,” a standard economic measure of income inequality. But the state is still one of five, the others being California, Florida, Louisiana and New York, that had an index higher than the national average. Conntact.com | Business New Haven

Business New Haven September October 2016  
Business New Haven September October 2016  
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