Connecticut - Economy

Economy

The total gross state product for 2010 was $237 billion. The per capita income for 2007 was $64,833, ranking fourth, behind the District of Columbia, Delaware, and Alaska. There is, however, a great disparity in incomes throughout the state; although New Canaan has one of the highest per capita incomes in America, Hartford is one of the ten cities with the lowest per capita incomes in America. As with Bridgeport, New Haven and other cities in the state, Hartford is surrounded by wealthier suburbs. The state's unemployment rate in August 2011 was 9.0%.

New Canaan is the wealthiest town in Connecticut, with a per capita income of $85,459. Darien, Greenwich, Weston, Westport and Wilton also have per capita incomes over $65,000. Hartford is the poorest municipality in Connecticut, with a per capita income of $13,428 in 2000. There are other lower-income and blue-collar towns, mostly parts of towns, in the eastern part of the State.

Because of a high "per-taxpayer" burden ($49,000), and under-reported pension and retirement healthcare liabilities, in 2012 IFTA declared Connecticut the worst of their "Bottom 5 Sinkhole States".