Total personal income in Connecticut dropped almost 3% in 2009, according to new figures from the Commerce Department. WNPR’s Harriet Jones reports.
Connecticut’s average level of personal income in 2009 stood at $54,397, down more than 3% over 2008. But despite seeing the sixth biggest decline in the country, the state still retains its top spot with the highest personal income per capita.
In seeing a sharp decline, Connecticut was in good company – 42 other states saw their average personal income drop. Nevada topped the list with a drop of nearly 5%. Connecticut’s decline was steeper than the national average though, which stood at 1.7%.
The Commerce Department takes into account wages, dividends, rent, retirement plans and government benefits. It’s only the second time in 40 years that there’s been a drop in real income.
For WNPR, I'm Harriet Jones.