Wages for Connecticut residents have reached record highs, according to Labor Department data, which shows private-sector wages have risen almost $4 an hour in the last eight years.
According to the figures, in that span, weekly wages for residents, on average, have increased by about $130 per week — a 15 percent increase. The data shows that 2015 wages are the highest at any point ever reported.
Nationwide, Connecticut’s hourly earnings rose the fifth highest of any state compared to overall hourly earnings since November 2014. Connecticut ranks fourth in America in average hourly wages as well as average weekly earnings.
The governor’s office said the data comes as the state’s private sector has seen some of the most robust job growth in the past decade, with 26,700 new jobs added. Unemployment is currently at its lowest rate since March 2008. Last month, Connecticut’s unemployment rate saw the sixth largest decline in the U.S. over the past year.
Department of Labor data also shows that hourly and weekly wages are up 4 percent and 3.1 percent, respectively, over the previous year’s estimate. Wage growth is also outpacing the change in the Consumer Price Index, which is 0.5 percent for the year.
