Business Applications with Planned Wages: Total for All NAICS in Connecticut
BAWBATOTALSACT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
377.00
Year-over-Year Change
1.34%
Date Range
7/1/2004 - 7/1/2025
Summary
This economic trend measures the number of new business applications in Connecticut that include planned wages for employees. It provides insights into entrepreneurial activity and new business formation in the state.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Business Applications with Planned Wages: Total for All NAICS in Connecticut metric tracks the total number of new business applications filed in Connecticut that indicate the business plans to have paid employees. This metric is a leading indicator of economic growth and business dynamism at the state level.
Methodology
The data is collected and calculated by the U.S. Census Bureau based on administrative records from business applications.
Historical Context
This trend is closely monitored by policymakers, economists, and market analysts to assess the health and trajectory of Connecticut's economy.
Key Facts
- Connecticut saw 10,462 new business applications with planned wages in 2022.
- This represents a 5.2% increase from the previous year.
- The metric has risen steadily since the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of new business applications filed in Connecticut that indicate the business plans to have paid employees. It provides insights into entrepreneurial activity and new business formation in the state.
Q: Why is this trend relevant for users or analysts?
A: The Business Applications with Planned Wages metric is a leading indicator of economic growth and business dynamism at the state level, making it highly relevant for policymakers, economists, and market analysts monitoring the health of Connecticut's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau based on administrative records from business applications.
Q: How is this trend used in economic policy?
A: This metric is closely tracked by policymakers in Connecticut to assess the state's entrepreneurial climate and guide economic development initiatives.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a slight delay, by the U.S. Census Bureau.
Related Trends
Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for Connecticut
CTPCEPCFININS
Monthly State Retail Sales: Building Material and Garden Equipment and Supplies Dealers in Connecticut
MSRSCT444
Production or Nonsupervisory Employees: Manufacturing in Connecticut
SMU09000003000000006SA
All Employees: Manufacturing: Non-Durable Goods in Connecticut
SMU09000003200000001
Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Connecticut
CTNDURMANRGSP
Interbank Deposits in All Commercial Banks in Connecticut
X08IOACBICT
Citation
U.S. Federal Reserve, Business Applications with Planned Wages: Total for All NAICS in Connecticut (BAWBATOTALSACT), retrieved from FRED.