Connecticut ranked last among all U.S. states in a newly published Pew Charitable Trusts study of personal income growth.
The study, which covered the span between the second quarter of 2019 and the second quarter of 2020, found Connecticut with a 5.1% personal income growth. At the other end of the spectrum was neighboring Massachusetts with a 16.6% growth rate. However, the study pointed out that the Bay State”™s growth was fueled by a 150.9% spike in government assistance payments, the highest in the nation.
The national growth rate, according to the study, was 9.7%. Pew also noted the national personal income growth in the period since the fourth quarter (the start of the Great Recession) through the fourth quarter of 2019 (the last pre-pandemic quarter) was 2%, and Connecticut tied with Mississippi with the lowest growth rate at 0.9%.
