During a recent visit to Connecticut, Federal Reserve Bank of Boston President Susan M. Collins and First Vice President Karen Pennell addressed workforce concerns with local industry leaders. The trip included stops at Electric Boat in Groton and the Connecticut Business & Industry Association in Hartford.

Electric Boat, known for its submarine manufacturing, has faced challenges meeting workforce demands due to a hiring slowdown after the Cold War. Courtney Murphy, director of Talent Management at Electric Boat, explained that partnerships with local schools have been crucial in addressing these needs. “Partnering with the schools was going to be really key to elevating the quality of hire that we were going to have,” she said.

The Eastern CT Manufacturing Pipeline emerged from these partnerships, training students for regional manufacturing jobs. Michael Nogelo, president of the Eastern Connecticut Workforce Investment Board, highlighted the pipeline's "demand-driven" approach as vital for its success.

Collins emphasized the importance of understanding regional workforce dynamics beyond aggregate data. She noted that while unemployment rates have fallen in Connecticut over the past year compared to national trends, there remains a pressing need for workforce development across various sectors.

At a roundtable discussion in Hartford, business leaders expressed concerns about wage inflation and high living costs impacting their ability to attract workers. Brian Montanari, CEO of HABCO in Glastonbury, discussed exploring automation and AI solutions for anticipated labor shortages.

Marietta Lee from The Lee Company shared her company's struggles with replacing skilled employees amid retirements. “Yesterday I went to three retirement parties,” she remarked on losing experienced staff along with their knowledge.

Paul Mounds from Yale New Haven Health mentioned efforts to partner with educational institutions as early as middle school level to create pathways into healthcare careers. “We have to do it ourselves,” he stated regarding proactive measures needed for workforce development.