State of Connecticut Consumer Trends ~ Labor Market Information

State of Connecticut Consumer Trends ~ Labor Market Information

Last Updated: February 19, 2020

	Connecticut Consumer Trends	Seasonally Adjusted/Not Seasonally Adjusted	Select Year >>
	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		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	2019	Y/Y	2020	Y/Y	2021	Y/Y	2022	Y/Y	2023	Y/Y
	Jan	194,209		203,217		189,863		189,984		206,828		209,980		216,302		229,746		242,249		246,420		254,811		263,070		269,372

	Feb	194,209		203,217		189,863		189,984		206,828		209,980		216,302		229,746		242,249		246,420		254,811		263,070		269,372

	Mar	194,209		203,217		189,863		189,984		206,828		209,980		216,302		229,746		242,249		246,420		254,811		263,070		269,372

	Apr	196,047		202,697		189,043		193,980		208,204		210,331		218,093		232,600		246,083		248,958		256,682		263,185		271,145

	May	196,047		202,697		189,043		193,980		208,204		210,331		218,093		232,600		246,083		248,958		256,682		263,185		271,145

	Jun	196,047		202,697		189,043		193,980		208,204		210,331		218,093		232,600		246,083		248,958		256,682		263,185		271,145

	Jul	198,175		203,108		187,469		195,331		207,035		210,182		219,054		234,000		248,178		248,883		258,803		267,948		272,929

	Aug	198,175		203,108		187,469		195,331		207,035		210,182		219,054		234,000		248,178		248,883		258,803		267,948		272,929

	Sep	198,175		203,108		187,469		195,331		207,035		210,182		219,054		234,000		248,178		248,883		258,803		267,948		272,929

	Oct	199,685		198,794		188,900		196,432		207,248		219,368		219,078		236,828		250,327		247,286		260,558		268,375		274,725

	Nov	199,685		198,794		188,900		196,432		207,248		219,368		219,078		236,828		250,327		247,286		260,558		268,375		274,725

	Dec	199,685		198,794		188,900		196,432		207,248		219,368		219,078		236,828		250,327		247,286		260,558		268,375		274,725



Back to Consumer Scorecard	Download Connecticut Personal Income (2001 - Current)

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		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	2019	Y/Y	2020	Y/Y	2021	Y/Y	2022	Y/Y	2023	Y/Y
	Jan	99,713		100,409		92,748		90,795		97,534		102,278		101,900		105,929		109,083		107,963		112,194		114,812		117,538

	Feb	99,713		100,409		92,748		90,795		97,534		102,278		101,900		105,929		109,083		107,963		112,194		114,812		117,538

	Mar	99,713		100,409		92,748		90,795		97,534		102,278		101,900		105,929		109,083		107,963		112,194		114,812		117,538

	Apr	96,925		97,961		92,973		95,141		99,656		100,224		101,502		105,753		107,928		111,048		111,834		112,983		118,425

	May	96,925		97,961		92,973		95,141		99,656		100,224		101,502		105,753		107,928		111,048		111,834		112,983		118,425

	Jun	96,925		97,961		92,973		95,141		99,656		100,224		101,502		105,753		107,928		111,048		111,834		112,983		118,425

	Jul	97,037		98,149		92,319		95,494		99,935		99,917		101,762		104,878		107,521		113,307		113,008		115,955		119,318

	Aug	97,037		98,149		92,319		95,494		99,935		99,917		101,762		104,878		107,521		113,307		113,008		115,955		119,318

	Sep	97,037		98,149		92,319		95,494		99,935		99,917		101,762		104,878		107,521		113,307		113,008		115,955		119,318

	Oct	97,292		96,871		94,878		98,243		97,723		102,220		104,433		106,258		110,057		110,457		113,151		114,932		120,218

	Nov	97,292		96,871		94,878		98,243		97,723		102,220		104,433		106,258		110,057		110,457		113,151		114,932		120,218

	Dec	97,292		96,871		94,878		98,243		97,723		102,220		104,433		106,258		110,057		110,457		113,151		114,932		120,218



Back to Consumer Scorecard	Download Connecticut Wage & Salaries (2001 - Current)	Top

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		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	2019	Y/Y	2020	Y/Y	2021	Y/Y	2022	Y/Y	2023	Y/Y
	Jan	$452.1		$368.9		$245.8		$211.9		$364.2		$492.7		$413.9		$409.1		$350.9		$372.7		$492.6		$542.4		$488.1

	Feb	$273.4		$293.1		$278.4		$267.7		$244.9		$286.8		$302.5		$296.3		$382.2		$357.3		$318.0		$357.5		$338.7

	Mar	$183.5		$237.9		$296.2		$307.2		$247.4		$194.3		$184.8		$273.2		$305.2		$309.2		$311.6		$260.4		$246.6

	Apr	$337.2		$293.8		$253.4		$273.3		$193.1		$403.8		$421.8		$340.1		$355.2		$278.3		$265.9		$418.4		$467.2

	May	$294.2		$229.7		$166.5		$157.5		$361.1		$317.0		$330.5		$262.5		$340.1		$423.6		$439.2		$362.1		$399.7

	Jun	$193.2		$346.6		$380.2		$371.0		$286.6		$233.5		$227.6		$413.3		$761.0		$364.7		$368.2		$292.9		$291.5

	Jul	$452.9		$367.2		$302.3		$322.5		$333.1		$456.0		$504.6		$418.6		$396.1		$428.8		$435.9		$567.4		$580.7

	Aug	$267.8		$173.5		$245.8		$257.9		$276.6		$291.3		$217.7		$217.9		$351.6		$324.1		$324.8		$343.9		$298.3

	Sep	$175.1		$361.8		$243.6		$250.9		$302.6		$210.0		$396.8		$423.2		$339.8		$350.8		$273.1		$274.2		$440.3

	Oct	$412.0		$318.2		$206.9		$184.5		$347.1		$410.2		$360.0		$378.8		$378.4		$374.4		$469.5		$497.3		$444.7

	Nov	$309.2		$185.5		$325.3		$369.7		$320.1		$344.8		$290.7		$263.6		$380.2		$382.0		$362.8		$393.4		$318.4

	Dec	$278.2		$355.6		$270.4		$259.2		$255.3		$318.0		$428.1		$438.2		$349.3		$317.5		$297.4		$397.1		$508.7



Back to Consumer Scorecard	Download Connecticut Sales & Use Tax Revenue (2001 - Current)	Top

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		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	2019	Y/Y	2020	Y/Y	2021	Y/Y	2022	Y/Y	2023	Y/Y
	Jan	8.25%		6.98%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.50%		3.75%		4.50%		5.50%

	Feb	8.25%		6.00%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.50%		3.75%		4.50%		5.50%

	Mar	8.25%		5.66%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.50%		3.88%		4.58%		5.50%

	Apr	8.25%		5.24%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.50%		4.00%		4.75%		5.50%

	May	8.25%		5.00%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.50%		4.00%		4.75%		5.50%

	Jun	8.25%		5.00%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.50%		4.13%		4.89%		5.50%

	Jul	8.25%		5.00%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.50%		4.25%		5.00%		5.50%

	Aug	8.25%		5.00%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.50%		4.25%		5.00%		5.25%

	Sep	8.03%		5.00%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.50%		4.25%		5.03%		5.15%

	Oct	7.74%		4.56%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.50%		4.25%		5.25%		4.99%

	Nov	7.50%		4.00%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.50%		4.25%		5.25%		4.75%

	Dec	7.33%		3.61%		3.25%		3.25%		3.25%		3.25%		3.25%		3.25%		3.37%		3.64%		4.40%		5.35%		4.75%



Back to Consumer Scorecard	Download Connecticut Prime Interest Rate (2001 - Current)	Top

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		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	2019	Y/Y	2020	Y/Y	2021	Y/Y	2022	Y/Y	2023	Y/Y
	Jan	6.22%		5.76%		5.06%		5.03%		4.76%		3.92%		3.41%		4.43%		3.71%		3.87%		4.15%		4.03%		4.46%

	Feb	6.29%		5.92%		5.13%		4.99%		4.95%		3.89%		3.53%		4.30%		3.71%		3.66%		4.17%		4.33%		4.37%

	Mar	6.16%		5.97%		5.00%		4.97%		4.84%		3.95%		3.57%		4.34%		3.77%		3.69%		4.20%		4.44%		4.27%

	Apr	6.18%		5.92%		4.81%		5.10%		4.84%		3.91%		3.45%		4.34%		3.67%		3.61%		4.05%		4.47%		4.14%

	May	6.26%		6.04%		4.86%		4.89%		4.64%		3.80%		3.54%		4.19%		3.84%		3.60%		4.01%		4.59%		4.07%

	Jun	6.66%		6.32%		5.42%		4.74%		4.51%		3.68%		4.07%		4.16%		3.98%		3.57%		3.90%		4.57%		3.80%

	Jul	6.70%		6.43%		5.22%		4.56%		4.55%		3.55%		4.37%		4.13%		4.05%		3.44%		3.97%		4.53%		3.77%

	Aug	6.57%		6.48%		5.19%		4.43%		4.27%		3.60%		4.46%		4.12%		3.91%		3.44%		3.88%		4.55%		3.62%

	Sep	6.38%		6.04%		5.06%		4.35%		4.11%		3.50%		4.49%		4.16%		3.89%		3.46%		3.81%		4.63%		3.61%

	Oct	6.38%		6.20%		4.95%		4.23%		4.07%		3.38%		4.19%		4.04%		3.80%		3.47%		3.90%		4.83%		3.69%

	Nov	6.21%		6.09%		4.88%		4.30%		3.99%		3.35%		4.26%		4.00%		3.94%		3.77%		3.92%		4.87%		3.70%

	Dec	6.10%		5.33%		4.93%		4.71%		3.96%		3.35%		4.46%		3.86%		3.96%		4.20%		3.95%		4.64%		3.72%



Back to Consumer Scorecard	Download Connecticut Conventional Mortgage Rate (2001 - Current)	Top

Consumer Scorecards	2001 • 2002 • 2003 • 2004 • 2005 • 2006 • 2007 • 2008 • 2009 • 2010 • 2011 • 2012 • 2013 • 2014 • 2015 • 2016 • 2017 • 2018 • 2019	Consumer Scorecards


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