Finance and Insurance in Connecticut

Finance and Insurance (NAICS 52) in Connecticut reports 119,436 workers across 5,629 establishments, with $21.2B of aggregate annual payroll flowing through Census CBP 2023 filings. That represents 1.7% of national employment for this industry — a concentration ratio that tells you whether Connecticut is a primary labor market for this NAICS code or a smaller satellite. A share above 5% signals a meaningful regional cluster; below 1% usually means the state is not a structural fit for this industry at scale.

Wage benchmarking is where state-level data earns its keep. The average annual compensation for Finance and Insurance employees in Connecticut is $177,844/yr, versus a national average of $125,425/yr. Connecticut pays above the national average for this industry, which usually reflects higher skill concentration, union density, or regional cost of living.

Profitability data is only available at the national level because the IRS Statistics of Income program does not publish state-level margin breakdowns. The national net profit margin for Finance and Insurance is 20.1%, and while margins do vary by state, the direction of variance usually follows labor cost and establishment size — both shown above. For a complete picture, pair this state-industry view with the Finance and Insurance national page (entity structure, SBA lending, sub-industries) and the Connecticut overview (top employers, payroll dispersion across industries).