Pew Study: CT Has the Slowest Recovery From the Recession in Entire U.S.November 13, 2017
A new Pew Charitable Trusts carries devastating news for the state of the state's economy.
Connecticut is last in the nation when it comes to recovering from the Great Recession, according to a new study from Pew Charitable Trusts.
Pew compared all 50 states’ growth rate in personal income from the fourth quarter (Q4) of 2007 to the second quarter of 2017, adjusted for inflation.
Connecticut came in last, with 0.6-percent growth since Q4 2007. Connecticut was one of nine states to have less than one-percent growth since Q4 2007.
Connecticut was also one of only ten states with a negative growth rate over the last year (-0.6 percent).
More bad news for Connecticut in Pew’s study:
- Connecticut’s debt, as a share of state personal income (30.2 percent), is the fifth-highest in the nation, after Alaska, Hawaii, Illinois, and New Jersey
- Connecticut was one of only 11 states in the nation where revenue has run short of expenses in the last 15 years
- Connecticut could only run its government 5.3 days on its total balances, less than one-fifth what the average state could run its government on (27.5 days)
It’s clear from this Pew study that Connecticut’s fiscal situation is dire.
Want to see more content like this?
Sign up for Email updates.