Average annual wages for all Connecticut jobs rose 1.6% to $67,744 in 2018, slightly higher than the 1.2% increase the previous year.
The average private sector salary increased 1.5% to $68,305, according to a report in the August issue of The Connecticut Economic Digest. That follows a 1% increase in 2017.
Average Annual Salaries, 2017-2018
|Statewide (all jobs)||$66,648||$67,744||1.6%|
Source: Connecticut Economic Digest, August 2019.
State government wages rose 1% to $71,595, a year after posting a 1.3% jump.
Local government workers saw average salaries rise 2.8% to $59,390 (2017: 2.4%) while the average federal government salary in Connecticut was up 3.5% to $77,106 (1.8%).
Connecticut's overall average salary is the third highest in the Northeast after New York ($72,902) and Massachusetts ($72,647), and 18% higher than the national average.
Average annual salaries vary greatly across industries, which the Digest report attributes to factors such as hours worked, workforce composition, other compensation like bonuses and stock options, and seasonal and weather influences.
The finance and insurance sector pays the highest annual average wage—$171,846, up 1.7% over the previous year.
Management has the second highest average ($151, 410; -1.8%), followed by utilities ($131,290; 5.7%), information ($110,642; 7.2%), and professional and technical services ($105,402; 1.8%).
The information sector also experienced the largest percentage increase for the year, followed by real estate (6.1%) and utilities.
At $22,416, accommodation and food services has the lowest average salary of any sector.
Salaries rose 2.6% in that sector, which has a high percentage of part-time workers, in 2018.
Arts, entertainment, and recreation workers earned an average $29,550 (3.3%) and public administration employees earned $33,618 (0.6%).
All but two sectors saw wage growth in 2018.
Management declined 1.8% and the average mining salary fell 1.6% to $75,470.
The average Connecticut wage has increased 14% since the recession ended in 2010.
Private sector wages rose 13% during that period while the public sector average increased 18%.
The statewide average saw its biggest post-recession percentage increase—2.9%—in 2011.