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US State economic profile
Connecticut - Economic Profile
Statistics, economic information and rankings for the Constitution State
In 2026, the state of Connecticut has a population of 3,727,325, having grown an annualized 0.7% over the five years to 2026, which ranks it 22nd out of all 50 US states by growth rate. Connecticut's gross state product (GSP) in 2026 reached $294.0b, with growth of 1.7% over the 5 years to 2026. Businesses in Connecticut employed a total of 2,060,639 people in 2026, with average annual employment growth over the past five years of 1.4%. The top three sectors by total employment are Real Estate & Rental & Leasing, Finance & Insurance, Manufacturing, while the unemployment rate across the state in 2026 was 4.8%.
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State economic profile
Connecticut Economic Overview
$294.0b
Gross state product
3,727,325
Population
376,892
Businesses
What is Connecticut's Gross Domestic Product (GDP)?
In 2026, Connecticut's GDP reached $294.0b, representing an increase of 1.7% from 2025. Connecticut's GDP has grown at an annualized rate of 1.3% over the five years to 2026. Moreover, Connecticut's trailing five-year GDP growth ranks it 33rd out of all 50 US states.
State GDP, or Gross State Product, is a measurement of a state's output, or the sum of value added from all industries in the state. It is a common indicator used to track the health of a state's economy.
You can track trends in Connecticut's GDP, and compare them to the national average, using the chart below.
State economic profile
Connecticut Industry Trends
Learn about current trends affecting the most significant industries for Connecticut's state economy, down to the county level. IBISWorld offers state industry research reports on over 30,000 industries across all 50 states in the US, including 635 industries in Connecticut.
What are Connecticut's Largest Industries by Revenue?
The largest industries by revenue in Connecticut are Health & Medical Insurance, Gasoline & Petroleum Bulk Stations and Life Insurance & Annuities, which generated $68.6b, $62.3b and $48.8b in 2026.
| Industry | 2026 revenue | |
|---|---|---|
| 1. | Health & Medical Insurance | $68.6b |
| 2. | Gasoline & Petroleum Bulk Stations | $62.3b |
| 3. | Life Insurance & Annuities | $48.8b |
| 4. | Aircraft, Engine & Parts Manufacturing | $31.2b |
| 5. | Property, Casualty and Direct Insurance | $28.3b |
| 6. | Wholesale Trade Agents and Brokers | $27.4b |
| 7. | Reinsurance Carriers | $26.9b |
| 8. | Portfolio Management & Investment Advice | $25.5b |
| 9. | Public Schools | $20.6b |
| 10. | Colleges & Universities | $20.4b |
State economic profile
Top Companies in Connecticut
Learn about current trends affecting the top companies in Connecticut. IBISWorld offers benchmarking data and tools on over 5,000 companies in the US.
Top 10 Companies Headquartered in Connecticut by Employment
The largest companies by employment in Connecticut are Hartford HealthCare, Raytheon and Amazon.Com, which employed 37,000, 17,000 and 15,000 people in 2026.
| Company | 2026 employment | Share of employment | |
|---|---|---|---|
| 1. | Hartford HealthCare | 37,000 | 1.8% |
| 2. | Raytheon | 17,000 | 0.8% |
| 3. | Amazon.Com | 15,000 | 0.7% |
| 4. | Yale New Haven Health | 14,984 | 0.7% |
| 5. | Saint Francis Health System | 12,000 | 0.6% |
| 6. | Eversource Energy | 9,600 | 0.5% |
| 7. | Walmart | 8,423 | 0.4% |
| 8. | Lockheed Martin | 8,000 | 0.4% |
| 9. | Mohawk Industries | 8,000 | 0.4% |
| 10. | University of Connecticut | 7,500 | 0.4% |
State economic profile
Connecticut Sector Statistics
In Connecticut, certain sectors drive a higher share of state GDP and employ more workers than others. However, simply looking at raw numbers doesn't always tell the whole story. Factoring in the current year growth percentage, in addition to the annualized growth percentage over the past five years, will give you a deeper understanding of the economic situation.
What is Connecticut's GDP by Sector?
The Real Estate & Rental & Leasing, Finance & Insurance and Manufacturing sectors contributed the most to Connecticut's GDP in 2026, representing a combined 41.4% of state GDP.
GDP trends by sector are an important indicator of which sectors are contributing the most value-add to the state economy, in addition to how the state economy is evolving over time.
| Sector | GDP | Growth 2026 | Annualized growth 2021-26 |
|---|---|---|---|
| Real Estate & Rental & Leasing | 43,484,082,554 | 2.6% | 2.9% |
| Finance & Insurance | 38,977,297,810 | 1.5% | 2.6% |
| Manufacturing | 35,831,990,798 | 2.1% | 2.0% |
| Healthcare & Social Assistance | 27,016,610,107 | 3.2% | 3.5% |
| Professional, Scientific & Technical Services | 26,805,603,603 | 4.7% | 5.1% |
| Information | 24,330,492,185 | 6.4% | 6.5% |
| Retail Trade | 16,659,104,983 | 3.5% | 2.9% |
| Wholesale Trade | 13,306,547,433 | -0.5% | -0.3% |
| Administration, Business Support and Waste Management Services | 9,396,902,466 | 3.6% | 4.1% |
| Management of Companies and Enterprises | 9,010,734,635 | 4.1% | 5.8% |
| Educational Services | 7,702,176,530 | 3.8% | 4.4% |
| Accommodation & Food Services | 7,006,597,791 | 3.3% | 3.0% |
| Transportation & Warehousing | 6,713,571,317 | 3.5% | 2.9% |
| Construction | 5,996,910,046 | -2.9% | -3.6% |
| Utilities | 4,732,828,882 | 3.1% | 3.0% |
| Arts, Entertainment & Recreation | 4,289,564,083 | 9.0% | 8.2% |
| Other Services (except Public Administration) | 4,272,811,636 | -2.5% | -2.1% |
| Agriculture, Forestry, Fishing & Hunting | 281,310,080 | -2.8% | -1.8% |
| Mining | 157,342,418 | 6.0% | 4.7% |
What is Connecticut's Employment by Sector?
The Healthcare & Social Assistance, Retail Trade and Educational Services sectors contributed the most to employment in Connecticut in 2026, representing a combined 39.4% of state employment.
Employment trends by sector are an important indicator of which sectors are growing or contracting most rapidly relative to the state economy as a whole.
| Sector | Employment | Growth 2026 | Annualized growth 2021-26 |
|---|---|---|---|
| Healthcare & Social Assistance | 336,212 | 1.9% | 1.3% |
| Retail Trade | 254,063 | 1.2% | 2.9% |
| Educational Services | 221,293 | -0.9% | 0.2% |
| Manufacturing | 174,201 | 2.2% | 3.0% |
| Professional, Scientific & Technical Services | 149,531 | 1.0% | 1.1% |
| Finance & Insurance | 142,462 | 0.2% | 1.3% |
| Accommodation & Food Services | 136,803 | 0.0% | 3.9% |
| Transportation & Warehousing | 136,169 | 5.4% | 6.5% |
| Administration, Business Support and Waste Management Services | 116,932 | 0.9% | 1.7% |
| Other Services (except Public Administration) | 85,107 | 0.3% | 2.8% |
| Construction | 82,876 | 0.4% | 1.2% |
| Wholesale Trade | 75,433 | 0.4% | 1.0% |
| Real Estate & Rental & Leasing | 58,323 | 1.4% | 1.7% |
| Information | 38,274 | 0.2% | 0.5% |
| Arts, Entertainment & Recreation | 35,687 | 0.2% | 3.9% |
| Utilities | 14,947 | 1.4% | 0.6% |
| Agriculture, Forestry, Fishing & Hunting | 1,389 | 0.7% | -0.6% |
| Mining | 937 | 1.4% | 2.4% |
State economic profile
Connecticut Employment Trends
2.1m
Employment
4.8%
Unemployment
What Employment Trends are Impacting Connecticut?
The state of Connecticut employs 2,060,639 people in 2026, which ranks it 28th out of all 50 US states. Employment in Connecticut has grown at an annualized rate of 2.1% over the five years to 2026, overperforming the national average of 1.7%. Major sectors by employment in Connecticut include Healthcare & Social Assistance, Retail Trade and Educational Services, which employed 336,212, 254,063 and 221,293 people in 2026, respectively. Connecticut's unemployment rate is 4.8% in 2026, which ranks it 34th out of all 50 US states. Connecticut's unemployment rate has trended downwards at a rate of -5.8% over the five years to 2026, overperforming the US economy as a whole.
Employment trends indicate the degree of tightness or slack in labor markets, in addition to the overall strength of an economy. Faster employment growth typically indicates a strong and growing economy, while lower unemployment tends to imply tightness in labor markets.
You can track unemployment trends in Connecticut, and compare them to the US economy, using the chart below.
$165.9k
Per capita disposable income
What is Connecticut's Per Capita Disposable Income?
Per capita disposable income, also known as disposable personal income (DPI), is the amount of money that the average person in an economy has available for spending and saving after accounting for income taxes. Connecticut's DPI in 2026 was $165.9k, compared to the US average of $156.5k, which places it 29th out of all 50 US states.
Disposable income is regarded as a key economic indicator as trends in disposable income are indicative of the level of aggregate demand, the state of labor markets and the financial strength of households.
You can track trends in Connecticut's per capita disposable income, and compare it to the US average, using the chart below.
State economic profile
Connecticut Construction & Building Trends
$3,624.2tn
Nonresidential construction
$1.8tn
Residential construction
7,563
Building permits
What can construction trends tell you about a state’s economy?
In Connecticut, non-residential construction was $3,624.2tn in 2026, which ranks it 25th out of all 50 US states. Residential construction was $1.8tn in 2026, which places Connecticut 42nd out of all 50 US states. The number of building permits issued in Connecticut in 2026 was 7,563, representing a 10.1% annualized growth rate between 2021 and 2026.
Trends in the construction sector are important because it creates jobs, income and tax revenue for a state. In addition, construction sector activity impacts other sectors in its supply chain, including manufacturing, wholesaling, warehousing, transportation, and real estate, rental and leasing services. Therefore, construction trends are important indicators of the health of an economy.
You can track trends in the number of building permits issued in Connecticut, and compare it to trends in the number issued in the United States as a whole, using the chart below.
State economic profile
Connecticut Population Statistics
Which Counties in Connecticut have the Largest Populations?
The counties with the highest populations in Connecticut are Fairfield County, Hartford County and New Haven County, which had populations of 969,161, 902,103 and 869,185 people in 2026.
| Region | 2026 population | Annual growth 2021-26 | Share of population |
|---|---|---|---|
| Fairfield | 969.2k | 0.2% | 26.0% |
| Hartford | 902.1k | 0.1% | 24.2% |
| New Haven | 869.2k | 0.1% | 23.3% |
| New London | 269.4k | 0.1% | 7.2% |
| Litchfield | 187.8k | 0.2% | 5.0% |
| Middlesex | 167.3k | 0.2% | 4.5% |
| Tolland | 154.9k | 0.9% | 4.2% |
| Windham | 118.2k | 0.3% | 3.2% |
State economic profile
Connecticut Demographics
In Connecticut, 42.9% of the population has a Bachelors or higher. The largest ethnic group in Connecticut is White, accounting for 60.6% of the state's population.
Education level in Connecticut
| Education level | Share (%) |
|---|---|
| Bachelors or higher | 42.9 |
| Other | 57.1 |
Race in Connecticut
| Race | Share (%) |
|---|---|
| White | 60.6 |
| Hispanic | 20.2 |
| Black | 11.2 |
| Asian | 5.6 |
| Other | 2.3 |
Connecticut State industry reports
IBISWorld State Industry Reports help you quickly understand how an industry performs at the state level compared with the national level, with accurate and unbiased industry information with a local focus. Use this collection to:
- Discover key local industry trends
- Identify threats and opportunities at the subnational level
- Inform your business strategies and planning
See our list of 635 Connecticut industry reports.
Other states to explore
Compare Connecticut’s economy with other states in the United States.
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