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August 3, 2018

Report: State average wage up 1.2% for 2017

By MICHAEL C. BINGHAM

Average annual wages for all Connecticut jobs was $66,648 in 2017 — a 1.2-percent increase from 2016, according to the August Connecticut Economic Digest, a joint report of the state’s Department of Labor and Department of Economic & Community Development (DECD).

That average annual-wage figure was second-highest in the six-state New England region, behind only Massachusetts ($69,942 for 2017). The U.S. average was $55,375, according to the report.

Also in 2017, private-sector wages rose by 1.0 percent to $67,278, according to the report. Average government wages increased by 1.9 percent for the year, to $62,648.

The number of business establishments expanded for the sixth consecutive year, to 119,669, a 2.0-percent increase over 2016. The increase came entirely from growth in the private sector — to 116,295 businesses. At the same time, the number of government worksites decreased 0.6 percent, from 3,393 in 2016 to 3,374 last year.

Among industries with the most significant year-over-year changes in job numbers, Health Care & Social Services led the way, expanding by 2,759 jobs from 2016 to 2017. Manufacturing also posted positive job numbers, adding 2,379 new positions in 2017.

The biggest employment loser was the government sector, which shed 3,796 jobs between 2016 and 2017. The second-biggest “loser” industry was Finance & Insurance, which posted a year-over-year job loss of 1,544. Much of that was due to retirements and hiring freezes, according to the report.

Highest annual wages by industry in Connecticut were reported in the Finance & Insurance sector. Its average wage for 2017 was $168,959 — 2.5 times the state average.

At the other end of the spectrum were hospitality and food-service workers, who posted an average annual income of $21,839 — a figure heavily influenced by the inclusion of part-time workers.

Reach Michael C. Bingham at mbingham@newhavenbiz.com

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