Income Inequality In Connecticut Is 3rd Largest In The Nation

July 24, 2018

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A new study released by the Economic Policy Institute (EPI), shows the nation is facing a level of income inequality not seen in 90 years. And the worst of it is in New York, which led all states with the top 1 percent holding 31 percent of the income, followed by Florida at 28.5 percent, and then Connecticut at 27.3%. Among the nation’s major metro areas, the Bridgeport-Stamford-Norwalk corridor ranked fifth with the top 1 percent holding a 38.6 percent share of income.

Within Connecticut, the largest gap was found in Fairfield County, where the top 1 percent make 62.2 times more than the bottom 99 percent. The top 1% make an average of $6.29-million annually, while the bottom 99% only rake in $101,213 per year. Fairfield County came in 12th in the nation followed by Westchester County, NY in 13th nationally.

The study's authors, Estelle Sommeiller and Mark Price wrote, “The rise of top incomes relative to the bottom 99 percent represents a sharp reversal of the trend that prevailed in the mid-20th century.”