The unemployment rate among veterans has dropped significantly over the past few years, with many companies focused on earmarking certain jobs for veterans. It’s an important development, because today’s veteran candidates have a range of unique abilities and experience to offer the civilian workforce. These include hard-to-teach skills like loyalty, dedication, self-motivation, sustained performance under pressure, respect for procedure, and the ability to work as a team.
If you’re looking at implementing a new HR strategy aimed at hiring veterans in Connecticut, this information will be very useful.
Connecticut is a state in New England, which is bordered by Massachusetts to the north, Rhode Island in the east, the Atlantic Ocean in the south, and New York to the west. It is the third smallest state in the nation, and has a population of around 3.5 million people. The state capital is Hartford, which was founded in 1635 and is one of the oldest cities in the U.S.
Connecticut is known for its vibrant finance and insurance industry, which produces 16.4% of its gross GDP. Companies with strong presences in the state include Cigna, Aetna, Finance and insurance is Connecticut's largest industry, according to the U.S. Census Bureau, generating 16.4% of gross domestic product (GDP) in 2009. Major financial industry employers offering jobs for veterans include:
Manufacturing is also a strong sector, with United Technologies Corporation one of the largest employers in the region with more than 22,000 people. As long as your workplace is accessible for veterans, there's no reason why your company shouldn't hire them.
News reports show the labor market in Connecticut grew tighter in June 2019, with unemployment at a 17-year-low. This makes it difficult for companies to fill vacant positions and expand. In Connecticut, the jobs that are most in-demand jobs are for cashiers and retail, which contrasts with the government section that lost 2,000 jobs in the past year.
Connecticut's agricultural sector offers jobs for veterans in its workforce of around 12,000 people, in the fields of nursery stock production, dairy products, eggs, tobacco, fish/shellfish, and fruit.
Businesses in Connecticut that hire eligible unemployed veterans can take advantage of the Work Opportunity Tax Credit (WOTC). This provides the following incentives:
The state government also offers tax incentives to encourage employers to hire veterans. All these benefits offer Connecticut companies many advantages for addressing their employment efforts to hiring veterans, and make it worth their while to do so.
For more information on how to advertise jobs for veterans on our website, please click here.