United States Regional Economic Analysis Project

Connecticut vs. United States
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1958-2022

Introduction

Connecticut:

2022 TPI = $300,750,748K

2022 Percent of U.S. = 1.38%

U.S.:

2022 TPI = $21,820,248,000K

The annual total personal incomes (TPI) estimates compiled by the Bureau of Economic Analysis, (BEA) are among the most comprehensive, consistent, comparable and timely measures of economic activity available statewide and at the national levels. Personal income estimates are also the best available local level indicator of general purchasing power, and are therefore central to tracking and comparing state patterns of economic growth and change.

The following graphs highlight trends in the pattern of growth and change in the total personal income of Connecticut. The data used are those compiled by the Regional Income and Product Divisions of the Bureau of Economic Analysis, U.S. Department of Commerce. The 2017 constant dollar (real) estimates of total personal income reported in the tables and portrayed graphically below are determined using the Implicit Price Deflator for Personal Consumption.

Data Definition:

Personal Income is the income that is received by all persons from all sources. It is calculated as the sum of wage and salary disbursements, supplements to wages and salaries, proprietors' income with inventory valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment, personal dividend income, personal interest income, and personal current transfer receipts, less contributions for government social insurance. The personal income of an area is the income that is received by, or on behalf of, all the individuals who live in the area; therefore, the estimates of personal income are presented by the place of residence of the income recipients.

Connecticut Total Personal Income, 1959-2022
Current vs. Constant Dollars (Millions)

Figure 1.

Figure 1 depicts Connecticut's annual total personal income over 1959-2022 in current and constant (2017) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of Connecticut over time.

When measured in current dollars, Connecticut's total personal income increased 4,204.48%, from $6,987M in 1959 to $300,751M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 467.16%, from $45,696M in 1959 to $259,172M in 2022.

Real Total Personal Income Indices (1958=100): 1958-2022

Figure 2.

Figure 2 shows Connecticut's real total personal income growth in a broader context by offering direct comparisons across time with the United States. The growth indices shown here express each region's real total personal income in 1958 as a base figure of 100, and the real total personal incomes in later years as a percentage of the 1958 base figure. This method allows for more direct comparison of differences in real total personal income growth between regions that may differ vastly in size.

Connecticut's overall real total personal income growth was 497.23% over 1958-2022 trailed the United States' increase of 653.14%.

Total Personal Income as a Percent of the United States Total: 1958-2022

Figure 3.

Another interesting and insightful way of comparing the total personal income growth of Connecticut is to compare its individual percentage contributions to the United States' total total personal income over time, as shown in Figure 3. A rising share means a region's total personal income grew faster, or declined less, than the United States' total personal income, while a declining share shows it grew more slowly.

In 1958, Connecticut's total personal income totaled 1.74% of the United States' total personal income, while in 2022 it comprised 1.38% thereby yielding a -0.36% share-shift.

Total Personal Income Share-Shift

2022 vs. 1958

	Share- Shift*		2022	vs.	1958
Connecticut	-0.36%	=	1.38%	-	1.74%

*Percent figures may not add due to rounding by a factor of ± 0.01%.

Connecticut Real Total Personal Income:
Annual Percent Change, 1959-2022

Figure 4.

Figure 4 displays the short-run pattern of Connecticut's real total personal income growth by tracking the year-to-year percent change over 1959-2022. The average annual percent change for the entire 64-year period is also traced on this chart to provide a benchmark for gauging periods of relative high--and relative low--growth against the backdrop of the long-term average.

On average, Connecticut's real total personal income grew at an annual rate of 2.87% over 1959-2022. The state recorded its highest growth in 1969 (9.59%) and recorded its lowest growth in 2013 (-3.58%). In 2022, Connecticut's real total personal income declined by -3.38%

Connecticut Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2022

Figure 5.

Over the past six decades some states have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 5 again traces the annual percent change in Connecticut's real total personal income since 1959, but this time they are overlayed with average growth rates for the decade of the 1960s, 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.

During the 1960s, Connecticut's annual real total personal income growth rate averaged 5.49%. It averaged 2.16% during the 1970s, 4.34% in the 1980s, 2.40% throughout the 1990s, 2.58% in the 2000s, 0.82% during the 2010s, 0.12% thus far this decade (2020-2022).

Real Total Personal Income Growth:
Average Annual Percent Change by Decade

Figure 6.

Figure 6 compares the decade average growth rates for Connecticut noted in the previous graph with the corresponding decade averages for the nation.

Relative to nationwide real total personal income growth trends, Connecticut outgained the nation in the 1960s (5.49% vs. 4.82%), fell below the nation during the 1970s (2.16% vs. 3.50%), recorded above the nation throughout the 1980s (4.34% vs. 3.16%), trailed the nation during the 1990s (2.40% vs. 3.27%), outperformed the nation during the 2000s (2.58% vs. 2.06%), fell below the nation in the 2010s (0.82% vs. 2.72%), and posted below the nation over 2020-2022 (0.12% vs. 2.10%).

Real* Total Personal Income Growth:

Average Annual Percent Change

	1959-2022	1960-1969	1970-1979	1980-1989	1990-1999	2000-2009	2010-2019	2020-2022	2022
	%	%	%	%	%	%	%	%	%
Connecticut	2.87	5.49	2.16	4.34	2.40	2.58	0.82	0.12	-3.38
United States	3.23	4.82	3.50	3.16	3.27	2.06	2.72	2.10	-4.19

*Real total personal income growth determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

Interactive Table Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

Connecticut:
Total Personal Income, 1958-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Nationwide Total
1958	6,537,966	0.151	43,395,500	100.0	N	1.74
1959	6,986,929	0.153	45,696,069	105.3	5.30	1.75
1960	7,276,115	0.155	46,818,834	107.9	2.46	1.74
1961	7,701,747	0.157	49,049,465	113.0	4.76	1.77
1962	8,227,247	0.159	51,789,292	119.3	5.59	1.77
1963	8,691,087	0.161	54,059,134	124.6	4.38	1.78
1964	9,334,801	0.163	57,237,114	131.9	5.88	1.79
1965	10,038,603	0.165	60,678,210	139.8	6.01	1.78
1966	11,023,487	0.170	64,989,311	149.8	7.10	1.80
1967	12,086,413	0.174	69,506,084	160.2	6.95	1.84
1968	12,828,792	0.181	70,998,904	163.6	2.15	1.78
1969	14,692,532	0.189	77,808,251	179.3	9.59	1.86
1970	15,673,815	0.198	79,296,848	182.7	1.91	1.83
1971	16,514,402	0.206	80,147,547	184.7	1.07	1.79
1972	17,804,686	0.213	83,558,692	192.6	4.26	1.75
1973	19,393,356	0.225	86,365,424	199.0	3.36	1.71
1974	21,157,238	0.248	85,335,530	196.6	-1.19	1.70
1975	22,725,543	0.269	84,607,383	195.0	-0.85	1.67
1976	24,536,404	0.283	86,600,092	199.6	2.36	1.64
1977	27,032,652	0.302	89,583,285	206.4	3.44	1.64
1978	30,080,860	0.323	93,198,847	214.8	4.04	1.62
1979	33,816,493	0.351	96,225,402	221.7	3.25	1.63
1980	38,512,122	0.389	98,931,674	228.0	2.81	1.66
1981	43,179,237	0.424	101,801,808	234.6	2.90	1.67
1982	46,620,377	0.448	104,130,748	240.0	2.29	1.68
1983	49,957,302	0.467	107,029,955	246.6	2.78	1.68
1984	55,764,293	0.484	115,122,717	265.3	7.56	1.70
1985	59,933,866	0.501	119,561,654	275.5	3.86	1.71
1986	64,498,723	0.512	125,927,338	290.2	5.32	1.73
1987	70,109,828	0.528	132,778,736	306.0	5.44	1.78
1988	77,602,137	0.549	141,441,970	325.9	6.52	1.82
1989	84,161,946	0.573	146,979,525	338.7	3.92	1.83
1990	86,883,116	0.598	145,350,257	334.9	-1.11	1.77
1991	87,907,577	0.618	142,305,140	327.9	-2.10	1.73
1992	94,201,383	0.634	148,535,766	342.3	4.38	1.74
1993	97,257,684	0.650	149,627,206	344.8	0.73	1.72
1994	99,992,503	0.664	150,690,974	347.3	0.71	1.69
1995	105,483,757	0.678	155,686,390	358.8	3.32	1.68
1996	110,516,027	0.692	159,698,318	368.0	2.58	1.66
1997	117,285,384	0.704	166,581,993	383.9	4.31	1.66
1998	126,666,437	0.710	178,486,391	411.3	7.15	1.67
1999	133,690,124	0.720	185,678,149	427.9	4.03	1.68
2000	146,216,908	0.738	198,066,847	456.4	6.67	1.70
2001	154,585,901	0.753	205,287,909	473.1	3.65	1.72
2002	154,452,766	0.763	202,452,145	466.5	-1.38	1.69
2003	156,438,636	0.779	200,835,284	462.8	-0.80	1.65
2004	164,657,448	0.798	206,267,864	475.3	2.70	1.65
2005	173,328,780	0.821	211,049,691	486.3	2.32	1.64
2006	187,213,123	0.844	221,711,420	510.9	5.05	1.66
2007	201,450,389	0.866	232,602,895	536.0	4.91	1.69
2008	214,658,238	0.892	240,729,212	554.7	3.49	1.73
2009	212,233,766	0.889	238,676,765	550.0	-0.85	1.76
2010	219,801,274	0.905	242,836,770	559.6	1.74	1.75
2011	226,305,765	0.928	243,853,460	561.9	0.42	1.70
2012	229,133,085	0.945	242,381,667	558.5	-0.60	1.65
2013	223,834,328	0.958	233,693,872	538.5	-3.58	1.59
2014	233,084,021	0.971	239,993,432	553.0	2.70	1.58
2015	239,184,854	0.973	245,824,576	566.5	2.43	1.55
2016	243,698,710	0.983	247,953,594	571.4	0.87	1.53
2017	249,451,101	1.000	249,451,101	574.8	0.60	1.50
2018	260,582,194	1.020	255,355,076	588.4	2.37	1.49
2019	267,552,755	1.035	258,472,612	595.6	1.22	1.46
2020	278,373,604	1.046	266,042,533	613.1	2.93	1.42
2021	292,370,938	1.090	268,227,758	618.1	0.82	1.37
2022	300,750,748	1.160	259,171,814	597.2	-3.38	1.38

1 1958 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

Source: Calculations by the United States Regional Economic Analysis Project (US-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis

November 2023

REAP_PI_SA1400_300_PN

Interactive Table Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

United States:
Total Personal Income, 1958-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change
1958	376,151,280	0.151	2,496,689,765	100.0	N
1959	400,328,786	0.153	2,618,239,281	104.9	4.87
1960	417,700,000	0.155	2,687,729,232	107.7	2.65
1961	436,047,000	0.157	2,777,015,667	111.2	3.32
1962	464,000,000	0.159	2,920,810,777	117.0	5.18
1963	487,780,000	0.161	3,034,023,761	121.5	3.88
1964	522,633,000	0.163	3,204,568,030	128.4	5.62
1965	564,444,000	0.165	3,411,774,662	136.7	6.47
1966	612,713,000	0.170	3,612,268,600	144.7	5.88
1967	656,828,000	0.174	3,777,261,487	151.3	4.57
1968	720,877,000	0.181	3,989,578,837	159.8	5.62
1969	791,229,000	0.189	4,190,165,758	167.8	5.03
1970	855,525,000	0.198	4,328,265,709	173.4	3.30
1971	924,613,000	0.206	4,487,323,465	179.7	3.67
1972	1,016,408,000	0.213	4,770,076,966	191.1	6.30
1973	1,133,468,000	0.225	5,047,731,018	202.2	5.82
1974	1,244,912,000	0.248	5,021,223,733	201.1	-0.53
1975	1,362,505,000	0.269	5,072,617,275	203.2	1.02
1976	1,495,704,000	0.283	5,279,017,400	211.4	4.07
1977	1,651,632,000	0.302	5,473,329,799	219.2	3.68
1978	1,855,849,000	0.323	5,749,934,936	230.3	5.05
1979	2,073,296,000	0.351	5,899,598,782	236.3	2.60
1980	2,313,972,000	0.389	5,944,235,512	238.1	0.76
1981	2,590,995,000	0.424	6,108,676,176	244.7	2.77
1982	2,777,640,000	0.448	6,204,105,336	248.5	1.56
1983	2,969,333,000	0.467	6,361,584,112	254.8	2.54
1984	3,275,415,000	0.484	6,761,937,695	270.8	6.29
1985	3,508,482,000	0.501	6,999,046,441	280.3	3.51
1986	3,717,756,000	0.512	7,258,548,586	290.7	3.71
1987	3,931,800,000	0.528	7,446,308,852	298.2	2.59
1988	4,264,433,000	0.549	7,772,592,728	311.3	4.38
1989	4,605,107,000	0.573	8,042,309,775	322.1	3.47
1990	4,897,332,000	0.598	8,192,943,538	328.2	1.87
1991	5,072,291,000	0.618	8,211,045,100	328.9	0.22
1992	5,406,546,000	0.634	8,524,985,809	341.5	3.82
1993	5,643,648,000	0.650	8,682,535,385	347.8	1.85
1994	5,933,938,000	0.664	8,942,579,420	358.2	3.00
1995	6,278,125,000	0.678	9,266,058,093	371.1	3.62
1996	6,660,854,000	0.692	9,625,094,288	385.5	3.87
1997	7,068,422,000	0.704	10,039,373,926	402.1	4.30
1998	7,584,003,000	0.710	10,686,661,406	428.0	6.45
1999	7,978,449,000	0.720	11,081,025,264	443.8	3.69
2000	8,620,234,000	0.738	11,677,052,911	467.7	5.38
2001	8,990,104,000	0.753	11,938,732,039	478.2	2.24
2002	9,146,700,000	0.763	11,989,225,466	480.2	0.42
2003	9,474,684,000	0.779	12,163,560,736	487.2	1.45
2004	10,008,929,000	0.798	12,538,275,270	502.2	3.08
2005	10,540,800,000	0.821	12,834,755,927	514.1	2.36
2006	11,291,446,000	0.844	13,372,153,008	535.6	4.19
2007	11,925,044,000	0.866	13,769,145,681	551.5	2.97
2008	12,423,410,000	0.892	13,932,275,429	558.0	1.18
2009	12,058,253,000	0.889	13,560,635,845	543.1	-2.67
2010	12,547,501,000	0.905	13,862,497,514	555.2	2.23
2011	13,299,818,000	0.928	14,331,082,712	574.0	3.38
2012	13,905,749,000	0.945	14,709,785,897	589.2	2.64
2013	14,063,283,000	0.958	14,682,748,144	588.1	-0.18
2014	14,778,160,000	0.971	15,216,235,418	609.5	3.63
2015	15,467,113,000	0.973	15,896,476,839	636.7	4.47
2016	15,884,741,000	0.983	16,162,082,333	647.3	1.67
2017	16,658,962,000	1.000	16,658,962,000	667.2	3.07
2018	17,514,402,000	1.020	17,163,073,878	687.4	3.03
2019	18,343,601,000	1.035	17,721,060,157	709.8	3.25
2020	19,609,985,000	1.046	18,741,324,605	750.6	5.76
2021	21,392,812,000	1.090	19,626,252,970	786.1	4.72
2022	21,820,248,000	1.160	18,803,588,325	753.1	-4.19

1 1958 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

Source: Calculations by the United States Regional Economic Analysis Project (US-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis

November 2023

REAP_PI_SA1400_300_PN

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