For a state reportedly known as “the richest state,” we’re certainly not doing a great job keeping our status. Actually, we’re quite terrible at it. Because, for what may be the first time, we fell out of the top 5.
Then again, given all the bad news concerning our latest budget, it’s a little shocking we made the top 10. The state saw many anchor businesses flee to other states, along with a good chunk of the population.
Still, Connecticut managed to hang on to the top 10 for another year. And here’s what kept us afloat.
Basically, our median household income saved our skins. Then again, that’s all probably thanks to about 50 or so homes in Greenwich. The total income averaged about $73,433, which is well above the national average of $57,617.
Our poverty rate was also surprisingly low, coming in 4th lowest overall with 9.8 percent. However, our unemployment rates happened to be one of the highest at 5.1 percent, coming in 16th place.
On top of that, Connecticut boasts having the 22nd lowest population in America, with an estimated 3,576,452 residents. But, as we all know, that number goes down every year.
So, there’s no telling where we’ll wind up on next year’s list. But, the general consensus is we won’t be going back up a notch anytime soon.
24/7 Wall Street says Connecticut’s concentration of high paying jobs is our most attractive feature. On top of that, Connecticut is one of the most educated states with about 38.6 percent of its residents holding bachelor’s degrees. So, that puts us in 4th place.
Anyways, you can say our state’s educational institutions, high paying jobs, and opportunity does help us maintain our “richest state” status. But, the fact that we slipped from #1 should give our politicians some concern.
Anyways, if you’re curious about who beat us this year, know that Massachusetts finally passed us and came in 4th place. Maryland earned the title this year as “richest state” followed by Alaska and New Jersey.
I know. Jersey beat us. Kinda depressing.
Anyways, Hawaii came in 5th.
As for “poorest states,” that honor goes to Mississippi, West Virginia, and Arkansas.
So, what do you think will happen to Connecticut in next year’s round up? What can our state do to regain our glory and salvage our reputation?