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MIDDLETOWN, CT — Liberty Bank is again teaming up with Save-A-Suit, a Connecticut-based nonprofit dedicated to helping veterans transition back to civilian life and achieve job security. The initiative supports local military men and women as they go through the job interview process and seek long-term employment.

Through July 15, the bank is collecting professional clothing for men and women, basically anything veterans can wear to a job interview and at work. Following the drive, Save-A-Suit staff and volunteers will sort the donations and distribute clothing at a quarterly event where veterans are also provided with wellness resources.

Liberty Bank has worked with Save-A-Suit since 2016. All Liberty Bank branches are currently accepting donations as drop-off sites for Save-A-Suit. Since inception in 2010, the nonprofit has helped ‘suit up’ and support over 5,000 veterans.

“Partnering with Save-a-Suit is one of the most rewarding experiences and sound investments we can make in a community organization that does so much year after year to help our veterans succeed after service,” said David Glidden, Liberty Bank president and CEO. “Our continued partnership with Save-A-Suit and other organizations allows us to show our deepest gratitude for the selfless service and sacrifice of our veterans who deserve only the best. Collectively, by giving back and spreading kindness, we are helping to ensure our veterans are fully prepared for the next chapter in their lives.”

Anyone can support local veterans through Save-A-Suit by dropping off new and gently used suits, blazers, dress shirts, dress pants, tops, shoes, and other business attire for men and women at the nearest Liberty Bank branch. Dirty, damaged or ripped items will not be distributed to veterans. Monetary donations for Save-A-Suit are also being accepted. For locations and branch hours, refer to www.liberty-bank.com and learn more about Save-A-Suit at: www.saveasuit.org

Veterans in Business

Labor Pains

 

The unemployment rate for veterans who served on active duty in the U.S. Armed Forces at any time since September 2001 — a group referred to as Gulf War-era II veterans — rose to 7.3% in 2020, the U.S. Bureau of Labor Statistics reported earlier this year. The jobless rate for all veterans increased to 6.5% in 2020. These increases reflect the effect of the COVID-19 pandemic on the labor market.

In August 2020, 40% of Gulf War-era II veterans had a service-connected disability, compared with 26% of all veterans. Among other highlights from the 2020 data:

• Unemployment rates for both male and female veterans increased in 2020, reflecting the COVID-19 pandemic. The rate for male veterans was 6.5%, little different from the rate of 6.7% for female veterans.

• Unemployment rates for white, black, Asian, and Hispanic veterans were lower than for their non-veteran counterparts in 2020.

• Among the 581,000 unemployed veterans in 2020, 54% were ages 25 to 54, 41% were age 55 and over, and 5% were ages 18 to 24.

• The unemployment rate of veterans with a service-connected disability, at 6.2% in August 2020, did not have a statistically significant change over the year. The rate for veterans with no disability rose to 7.2%.

“In 2020, 18.5 million men and women were veterans, accounting for about 7% of the civilian non-institutional population age 18 and over.”

• Gulf War-era II veterans who reported a service-connected disability rating of less than 30% were much more likely to be in the labor force than those with a rating of 60% or higher in August 2020 (91.5%, compared with 63.6%).

• In August 2020, 31% of employed veterans with a service-connected disability worked in the public sector, compared with 19% of veterans with no disability and 14% of non-veterans.

In 2020, 18.5 million men and women were veterans, accounting for about 7% of the civilian non-institutional population age 18 and over. Of all veterans, about 10% were women. In the survey, veterans are defined as men and women who have previously served on active duty in the U.S. Armed Forces and who were civilians at the time these data were collected.

Veterans are much more likely to be men than are non-veterans, and they also tend to be older. In part, this reflects the characteristics of veterans who served during World War II, the Korean War, and the Vietnam era, all of whom are now over 60 years old. Veterans who served during these wartime periods accounted for 37% (6.8 million) of the total veteran population in 2020. Forty-one percent of veterans (7.6 million) served during the Gulf War era I (August 1990 to August 2001) or Gulf War era II (September 2001 to present). Twenty-two percent (4.1 million) served outside the designated wartime periods.

In August 2020, 4.7 million veterans, or 26% of the total, had a service-connected disability. Veterans with a service-connected disability are assigned a disability rating by the U.S. Department of Veterans Affairs or the U.S. Department of Defense. Ratings range from 0 to 100%, in increments of 10 percentage points, depending on the severity of the condition.

The unemployment rate for veterans with a service-connected disability was 6.2% in August 2020, not statistically different from the rate for veterans with no disability (7.2%). The unemployment rates for male and female veterans with a service-connected disability were not statistically different (5.8% and 8.9%, respectively). The labor-force participation rate for veterans with a service-connected disability (48.6%) was also not statistically different from the rate for veterans with no disability (47.2%). Among veterans with a service-connected disability, 27% reported a disability rating of less than 30%, while 44% had a rating of 60% or higher.

Veterans in Business

Soldier Stories

As the nation honors those who have served on Veterans Day, BusinessWest does the same with a special section on veterans in business. It includes an in-depth look at why some companies make the hiring of veterans a priority, and why others should follow suit. But we’ll start with several profiles of individuals who have made the transition from military service to business management, and how they’re taking lessons from their years of service into the workplace.


 

Corey Murphy, President, First American Insurance

Retired Marine Corps Major Stresses Teamwork, Accountability

 

 


 

Dorothy Ostrowski, President, Adams & Ruxton Construction

Her Afghanistan Tour Brought Many Lessons for Life, Business

 

 


 

Andrew Anderlonis, President, Rediker Software

His Time in the Navy Provided an Education on Many Levels

 

 


 

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