Connecticut Salaries Up 3.1% in 2023

Average annual salaries rose 3.1% ($2,545) in Connecticut in 2023, with all major industry sectors posting increases.

Connecticut workers earned an average $83,782 last year—fifth highest in the country—based on U.S. Bureau of Labor Statistics data.

Massachusetts workers earned the highest average wage ($91,504), followed by New York ($91,352), Washington state ($88,482), and California ($87,531).

Nationally, average wages rose 3.4% to $72,357, with percentage increases ranging from 5.4% in West Virginia to 0.9% in New York.

Mississippi workers remain the country’s lowest paid (up 3.6% to $47,420), followed by Arkansas (3.1%; $55,697), West Virginia ($56,045), South Dakota (3.7%; $56,060), and Idaho (3.8%; $56,277).

Maine led the New England region in percentage growth, with wages rising 3.9% to $60,384, followed by Vermont (3.7%; $61,805), Connecticut, New Hampshire (3%; $74,439), Rhode Island (2.5%; 66,133), and Massachusetts (1.9%).

Industry Sectors

Sector	Average Annual Salary	% Change (from 2022)
Transportation & warehousing	$58,624	11.3%
Mining	$81,022	8.7%
Real estate	$88,933	7%
Utilities	$150,717	6.7%
Administration & waste management	$64,245	5.8%
Construction	$84,197	5.3%
Accommodation & food services	$29,978	5.2%
Federal government	$89,316	4.8%
Information	$152,078	4.6%
Other services	$48,569	4.2%
Agriculture	$46,916	4.1%
Arts, entertainment, recreation	$38,471	3.7%
Finance & insurance	$215,276	3.6%
Retail trade	$44,151	3.5%
Educational services	$80,537	3.2%
Manufacturing	$95,470	3.1%
Local government	$70,398	3%
Wholesale trade	$121,453	3%
Healthcare & social services	$65,353	2.5%
State government	$84,688	2.3%
Professional services	$130,567	1%
Management	$175,360	0.9%

Source: U.S. Bureau of Labor Statistics.

Average annual salaries in Connecticut have increased 34% over the last decade, marked by a 7.9% jump in 2020.

Private sector salaries grew 3.1% to $83,773 last year, while state government employees saw a 2.3% increase to $84,688.

Transportation and warehousing wages increased 11.3% ($5,571), the largest percentage increase of any sector.

Management salaries grew 0.9% to $175,360, the slowest percentage growth of any sector.

Finance and insurance salaries increased 3.6% to $215,276 last year, the highest average salary of any sector.

Growth Factors

CBIA president and CEO Chris DiPentima said the state’s high average salary reflected the fact that “Connecticut workers are among the most highly skilled and productive in the world.”

“The continued growth in salaries is no surprise either, given ongoing inflationary pressures, the labor shortage, and the changing demographics and expectations of the workforce,” he said.

“And don’t forget that Connecticut’s cost of living is among the highest in the country, driven by the state’s tax burden and high energy, housing, and childcare costs.”

Employee hiring and retention were the top investment priorities for employers last year according to CBIA’s 2023 Survey of Connecticut Businesses.

The survey also found that labor costs were the top driver of rising business expenses—Connecticut is the eighth costliest state for business—followed by taxes and state workplace mandates.

In addition to higher salaries, surveyed employers are providing more flexible schedules and paid time off and offering tuition reimbursement, sign-on bonuses, and childcare reimbursement.

DiPentima said those investments and rapidly evolving workplace policies were reflected in the state’s voluntary quits rate, which is currently the eighth lowest in the country.

“Turnover in Connecticut workplaces is relatively low, reflecting employers’ response to the challenges of the past few years,” he said.

Labor Force Concerns

Despite continued high job openings—up 21% from pre-pandemic levels—Connecticut’s ongoing labor force losses continue to threaten job and economic growth.

Connecticut’s labor force—those working plus those looking for work—remains 17,700 people (-0.9%) below pre-pandemic levels, with approximately 1.2 job openings for every unemployed person.

That decline represent the largest percentage loss in the region, while the U.S. labor force grew 2.4% over the same period.

“If every unemployed Connecticut resident was hired tomorrow, we’d still have more than 15,000 unfilled positions,” DiPentima said.

“Solving this crisis means reversing population trends of the past decade by making the state more affordable, increasing housing inventory, improving the childcare system, and expanding career opportunities.

“Job growth is essential for building a robust, vibrant economy and we must address those structural factors, many of which predate the pandemic, that are driving the labor shortage.”