Total Wages and Salaries in Connecticut
CTWTOT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
156,816,875.00
Year-over-Year Change
15.80%
Date Range
1/1/1998 - 1/1/2025
Summary
The Total Wages and Salaries in Connecticut series tracks the total earnings paid to workers in the state, a key indicator of economic activity and household income.
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
This series measures the aggregate wages, salaries, commissions, tips, and bonuses paid to employees across all industries and occupations in Connecticut. It is a valuable metric for analyzing labor market trends and consumer spending potential in the state.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers monitor this metric to assess the overall health of the Connecticut economy.
Key Facts
- Connecticut's total wages and salaries reached $305 billion in 2021.
- The finance and insurance sector accounts for the largest share of total wages in the state.
- Wages and salaries grew by 7.2% in Connecticut in 2021 compared to the prior year.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total earnings paid to workers across all industries and occupations in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: It is a key indicator of economic activity and household income in Connecticut, providing insight into labor market trends and consumer spending potential.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this metric to assess the overall health of the Connecticut economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, and may be subject to revisions.
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Citation
U.S. Federal Reserve, Total Wages and Salaries in Connecticut (CTWTOT), retrieved from FRED.