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State of Connecticut Consumer Trends ~ Labor Market Information
Last Updated: May 8, 2018  
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Critical to the health of the National and State economies is the ability of consumers to buy the goods and services being offered for sale by businesses. In turn, consumer demand is predicated on the willingness and ability of buyers to make purchases. Signals on consumers’ ability to buy are usually found in the levels, changes from the previous period, and year-to-year changes, of Quarterly Personal Income, and Quarterly Wages and Salaries, and in the Prime Rate and Conventional Mortgage Rates. Their willingness is reflected in their actual behavior. That is, are they actually making purchases? The most timely indicator that sends a signal about actual consumer behavior, at the state level, is Sales Tax Revenue activity.
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Personal Income#1 measures the net earnings, rental income, personal dividend income, personal interest income, and transfer payments by place of residence before the deduction of personal income taxes and other personal taxes. Reported in current dollars. The phrase personal income is sometimes used to refer to the total compensation received by an individual. This is more aptly referred to as individual income, and in most jurisdictions, personal income, also called individual income or gross income, above a certain exemption threshold is subject to taxation.
Month 2002 Y/Y 2003 Y/Y 2004 Y/Y 2005 Y/Y 2006 Y/Y 2007 Y/Y 2008 Y/Y 2009 Y/Y 2010 Y/Y 2011 Y/Y 2012 Y/Y 2013 Y/Y 2014 Y/Y 2015 Y/Y 2016 Y/Y 2017 Y/Y 2018 Y/Y
Jan 148,294 148,871 156,120 164,959 179,444 194,209 203,217 189,863 189,984 206,828 209,980 216,302 229,746 242,249 246,420 249,241 253,974
Feb 148,294 148,871 156,120 164,959 179,444 194,209 203,217 189,863 189,984 206,828 209,980 216,302 229,746 242,249 246,420 249,241 253,974
Mar 148,294 148,871 156,120 164,959 179,444 194,209 203,217 189,863 189,984 206,828 209,980 216,302 229,746 242,249 246,420 249,241 253,974
Apr 150,083 151,097 159,590 166,933 182,883 196,047 202,697 189,043 193,980 208,204 210,331 218,093 232,600 246,083 248,958 250,556
May 150,083 151,097 159,590 166,933 182,883 196,047 202,697 189,043 193,980 208,204 210,331 218,093 232,600 246,083 248,958 250,556
Jun 150,083 151,097 159,590 166,933 182,883 196,047 202,697 189,043 193,980 208,204 210,331 218,093 232,600 246,083 248,958 250,556
Jul 149,869 152,149 163,386 169,659 185,342 198,175 203,108 187,469 195,331 207,035 210,182 219,054 234,000 248,178 248,883 251,951
Aug 149,869 152,149 163,386 169,659 185,342 198,175 203,108 187,469 195,331 207,035 210,182 219,054 234,000 248,178 248,883 251,951
Sep 149,869 152,149 163,386 169,659 185,342 198,175 203,108 187,469 195,331 207,035 210,182 219,054 234,000 248,178 248,883 251,951
Oct 150,021 155,209 166,617 173,666 188,526 199,685 198,794 188,900 196,432 207,248 219,368 219,078 236,828 250,327 247,286 252,961
Nov 150,021 155,209 166,617 173,666 188,526 199,685 198,794 188,900 196,432 207,248 219,368 219,078 236,828 250,327 247,286 252,961
Dec 150,021 155,209 166,617 173,666 188,526 199,685 198,794 188,900 196,432 207,248 219,368 219,078 236,828 250,327 247,286 252,961
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Wages and Salaries#2 are defined as "the total remuneration, in cash or in kind, payable to all persons counted on the payroll (including homeworkers), in return for work done during the accounting period" regardless of whether it is paid on the basis of working time, output or piecework and whether it is paid regularly or not. Wages and salaries include the values of any social contributions, income taxes, etc. payable by the employee even if they are actually withheld by the employer and paid directly to social insurance schemes, tax authorities, etc. on behalf of the employee. Wages and salaries do not include social contributions payable by the employer.
Month 2002 Y/Y 2003 Y/Y 2004 Y/Y 2005 Y/Y 2006 Y/Y 2007 Y/Y 2008 Y/Y 2009 Y/Y 2010 Y/Y 2011 Y/Y 2012 Y/Y 2013 Y/Y 2014 Y/Y 2015 Y/Y 2016 Y/Y 2017 Y/Y 2018 Y/Y
Jan 77,197 77,416 81,341 84,467 90,926 99,713 100,409 92,748 90,795 97,534 102,278 101,900 105,929 109,083 107,963 112,630 113,350
Feb 77,197 77,416 81,341 84,467 90,926 99,713 100,409 92,748 90,795 97,534 102,278 101,900 105,929 109,083 107,963 112,630 113,350
Mar 77,197 77,416 81,341 84,467 90,926 99,713 100,409 92,748 90,795 97,534 102,278 101,900 105,929 109,083 107,963 112,630 113,350
Apr 77,441 78,399 81,870 86,543 91,113 96,925 97,961 92,973 95,141 99,656 100,224 101,502 105,753 107,928 111,048 112,088
May 77,441 78,399 81,870 86,543 91,113 96,925 97,961 92,973 95,141 99,656 100,224 101,502 105,753 107,928 111,048 112,088
Jun 77,441 78,399 81,870 86,543 91,113 96,925 97,961 92,973 95,141 99,656 100,224 101,502 105,753 107,928 111,048 112,088
Jul 77,573 78,912 83,837 89,073 91,816 97,037 98,149 92,319 95,494 99,935 99,917 101,762 104,878 107,521 113,307 111,984
Aug 77,573 78,912 83,837 89,073 91,816 97,037 98,149 92,319 95,494 99,935 99,917 101,762 104,878 107,521 113,307 111,984
Sep 77,573 78,912 83,837 89,073 91,816 97,037 98,149 92,319 95,494 99,935 99,917 101,762 104,878 107,521 113,307 111,984
Oct 77,131 79,929 86,135 89,253 93,633 97,292 96,871 94,878 98,243 97,723 102,220 104,433 106,258 110,057 110,457 112,665
Nov 77,131 79,929 86,135 89,253 93,633 97,292 96,871 94,878 98,243 97,723 102,220 104,433 106,258 110,057 110,457 112,665
Dec 77,131 79,929 86,135 89,253 93,633 97,292 96,871 94,878 98,243 97,723 102,220 104,433 106,258 110,057 110,457 112,665
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Sales & Use Tax Revenue#3 Sales tax is a consumable tax placed on retail sales, leases or rentals of most goods, and any taxable services in the state required. Use tax is used in relation to the sales tax and is applied when merchandise is purchased from outside of state lines for use or consumption. There is only one statewide sales and use tax. There are no additional sales taxes imposed by local jurisdictions in Connecticut. The statewide rate of 6.35% applies to the retail sale, lease, or rental of most goods and taxable services.
Month 2002 Y/Y 2003 Y/Y 2004 Y/Y 2005 Y/Y 2006 Y/Y 2007 Y/Y 2008 Y/Y 2009 Y/Y 2010 Y/Y 2011 Y/Y 2012 Y/Y 2013 Y/Y 2014 Y/Y 2015 Y/Y 2016 Y/Y 2017 Y/Y 2018 Y/Y
Jan $346.0 $335.0 $361.8 $371.1 $389.0 $452.1 $368.9 $245.8 $211.9 $364.2 $492.7 $413.9 $409.1 $350.9 $372.7 $492.6 $542.4
Feb $209.4 $205.1 $210.2 $218.2 $231.5 $273.4 $293.1 $278.4 $267.7 $244.9 $286.8 $302.5 $296.3 $382.2 $357.3 $318.0 $357.5
Mar $209.2 $210.5 $215.2 $225.9 $233.2 $183.5 $237.9 $296.2 $307.2 $247.4 $194.3 $184.8 $273.2 $305.2 $309.2 $311.6 $260.4
Apr $270.8 $264.4 $277.9 $289.1 $306.6 $337.2 $293.8 $253.4 $273.3 $193.1 $403.8 $421.8 $340.1 $355.2 $278.3 $265.9
May $235.7 $243.3 $244.9 $257.4 $267.3 $294.2 $229.7 $166.5 $157.5 $361.1 $317.0 $330.5 $262.5 $340.1 $423.6 $439.2
Jun $242.7 $245.3 $252.7 $266.4 $269.3 $193.2 $346.6 $380.2 $371.0 $286.6 $233.5 $227.6 $413.3 $761.0 $364.7 $368.2
Jul $307.1 $297.6 $322.9 $343.3 $343.4 $452.9 $367.2 $302.3 $322.5 $333.1 $456.0 $504.6 $418.6 $396.1 $428.8 $435.9
Aug $238.0 $242.3 $253.9 $260.6 $256.7 $267.8 $173.5 $245.8 $257.9 $276.6 $291.3 $217.7 $217.9 $351.6 $324.1 $324.8
Sep $242.2 $248.0 $250.3 $260.0 $180.8 $175.1 $361.8 $243.6 $250.9 $302.6 $210.0 $396.8 $423.2 $339.8 $350.8 $273.1
Oct $304.6 $289.5 $303.2 $316.4 $391.7 $412.0 $318.2 $206.9 $184.5 $347.1 $410.2 $360.0 $378.8 $378.4 $374.4 $469.5
Nov $267.6 $249.5 $252.4 $255.0 $288.4 $309.2 $185.5 $325.3 $369.7 $320.1 $344.8 $290.7 $263.6 $380.2 $382.0 $362.8
Dec $231.0 $244.7 $258.2 $270.1 $192.2 $278.2 $355.6 $270.4 $259.2 $255.3 $318.0 $428.1 $438.2 $349.3 $317.5 $297.4
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Prime Interest Rate#4 is the interest rate that banks charge their preferred customers, or those with the highest credit ratings. It is used to determine borrowing costs on many short-term loan products. The prime rate index can be volatile or remain constant for months on end, depending on the economic climate.
Month 2002 Y/Y 2003 Y/Y 2004 Y/Y 2005 Y/Y 2006 Y/Y 2007 Y/Y 2008 Y/Y 2009 Y/Y 2010 Y/Y 2011 Y/Y 2012 Y/Y 2013 Y/Y 2014 Y/Y 2015 Y/Y 2016 Y/Y 2017 Y/Y 2018 Y/Y
Jan 4.75% 4.25% 4.00% 5.25% 7.26% 8.25% 6.98% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.50% 3.75% 4.50%
Feb 4.75% 4.25% 4.00% 5.49% 7.50% 8.25% 6.00% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.50% 3.75% 4.50%
Mar 4.75% 4.25% 4.00% 5.58% 7.53% 8.25% 5.66% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.50% 3.88% 4.58%
Apr 4.75% 4.25% 4.00% 5.75% 7.75% 8.25% 5.24% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.50% 4.00%
May 4.75% 4.25% 4.00% 5.98% 7.93% 8.25% 5.00% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.50% 4.00%
Jun 4.75% 4.22% 4.01% 6.01% 8.02% 8.25% 5.00% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.50% 4.13%
Jul 4.75% 4.00% 4.25% 6.25% 8.25% 8.25% 5.00% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.50% 4.25%
Aug 4.75% 4.00% 4.43% 6.44% 8.25% 8.25% 5.00% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.50% 4.25%
Sep 4.75% 4.00% 4.58% 6.59% 8.25% 8.03% 5.00% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.50% 4.25%
Oct 4.75% 4.00% 4.75% 6.75% 8.25% 7.74% 4.56% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.50% 4.25%
Nov 4.35% 4.00% 4.93% 7.00% 8.25% 7.50% 4.00% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.50% 4.25%
Dec 4.25% 4.00% 5.15% 7.15% 8.25% 7.33% 3.61% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.37% 3.64% 4.40%
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Conventional Mortgage Rate#5 A conventional mortgage is a loan that is not guaranteed or insured by any government agency. It is typically fixed in its terms and rate. A conventional mortgage refers to a loan that is not insured or guaranteed by the federal government. A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac. The maximum limit for a conforming loan depends on the county and state you live in.
Month 2002 Y/Y 2003 Y/Y 2004 Y/Y 2005 Y/Y 2006 Y/Y 2007 Y/Y 2008 Y/Y 2009 Y/Y 2010 Y/Y 2011 Y/Y 2012 Y/Y 2013 Y/Y 2014 Y/Y 2015 Y/Y 2016 Y/Y 2017 Y/Y 2018 Y/Y
Jan 7.00% 5.92% 5.74% 5.71% 6.15% 6.22% 5.76% 5.06% 5.03% 4.76% 3.92% 3.41% 4.43% 3.71% 3.87% 4.15% 4.03%
Feb 6.89% 5.84% 5.64% 5.63% 6.25% 6.29% 5.92% 5.13% 4.99% 4.95% 3.89% 3.53% 4.30% 3.71% 3.66% 4.17% 4.33%
Mar 7.01% 5.75% 5.45% 5.93% 6.32% 6.16% 5.97% 5.00% 4.97% 4.84% 3.95% 3.57% 4.34% 3.77% 3.69% 4.20% 4.44%
Apr 6.99% 5.81% 5.83% 5.86% 6.51% 6.18% 5.92% 4.81% 5.10% 4.84% 3.91% 3.45% 4.34% 3.67% 3.61% 4.05%
May 6.81% 5.48% 6.27% 5.72% 6.60% 6.26% 6.04% 4.86% 4.89% 4.64% 3.80% 3.54% 4.19% 3.84% 3.60% 4.01%
Jun 6.65% 5.23% 6.29% 5.58% 6.68% 6.66% 6.32% 5.42% 4.74% 4.51% 3.68% 4.07% 4.16% 3.98% 3.57% 3.90%
Jul 6.49% 5.63% 6.06% 5.70% 6.76% 6.70% 6.43% 5.22% 4.56% 4.55% 3.55% 4.37% 4.13% 4.05% 3.44% 3.97%
Aug 6.29% 6.26% 5.87% 5.82% 6.52% 6.57% 6.48% 5.19% 4.43% 4.27% 3.60% 4.46% 4.12% 3.91% 3.44% 3.88%
Sep 6.09% 6.15% 5.75% 5.77% 6.40% 6.38% 6.04% 5.06% 4.35% 4.11% 3.50% 4.49% 4.16% 3.89% 3.46% 3.81%
Oct 6.11% 5.95% 5.72% 6.07% 6.36% 6.38% 6.20% 4.95% 4.23% 4.07% 3.38% 4.19% 4.04% 3.80% 3.47% 3.90%
Nov 6.07% 5.93% 5.73% 6.33% 6.24% 6.21% 6.09% 4.88% 4.30% 3.99% 3.35% 4.26% 4.00% 3.94% 3.77% 3.92%
Dec 6.05% 5.88% 5.75% 6.27% 6.14% 6.10% 5.33% 4.93% 4.71% 3.96% 3.35% 4.46% 3.86% 3.96% 4.20% 3.95%
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