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Career and Education Opportunities for Actuaries in Connecticut

Connecticut has a population of 3,518,288, which has grown by 3.31% over the past decade. Nicknamed the "Constitution State," its capital is Hartford, though its most populous city is Bridgeport.

Currently, 970 people work as actuaries in Connecticut. This is expected to grow 7% to about 1,040 people by 2016. This is not quite as good as the national trend for actuaries, which sees this job pool growing by about 21.4% over the next eight years. Actuaries generally analyze statistical data, such as mortality, accident, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits.

Income for actuaries is about $42 per hour or $88,230 yearly on average in Connecticut. Nationally, their income is about $40 per hour or $84,810 per year. Earnings for actuaries are better than earnings in the general category of Statistics Analysis in Connecticut and better than general Statistics Analysis category earnings nationally. Actuaries work in a variety of jobs, including: actuarial assistant, actuarial consultant, and consulting actuary.

In 2008, there were a total of 2,279,011 jobs in Connecticut. The average annual income was $56,245 in 2008, up from $55,629 in 2007. The unemployment rate in Connecticut was 8.2% in 2009, which has grown by 2.6% since the previous year. Approximately 31.4% of Connecticut residents have college degrees, which is higher than the national average.

The top industries in Connecticut include petroleum bulk stations, sales financing, and paper product merchant wholesalers.

CITIES WITH Actuary OPPORTUNITIES IN Connecticut


JOB DESCRIPTION: Actuary

Actuary video from the State of New Jersey Dept. of Labor and Workforce Development

In general, actuaries analyze statistical data, such as mortality, accident, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. They also may ascertain premium rates required and cash reserves necessary to ensure payment of future benefits.

Every day, actuaries are expected to be able to deal with basic arithmetic problems. They need to articulate ideas and problems. It is also important that they read and understand documents and reports.

Similar jobs with educational opportunities in Connecticut include:

  • Operations Research Analyst. Formulate and apply mathematical modeling and other optimizing methods using a computer to develop and interpret information that assists management with decision making, policy formulation, or other managerial functions. May develop related software, service, or products. Frequently concentrates on collecting and analyzing data and developing decision support software. May develop and supply optimal time, cost, or logistics networks for program evaluation, review, or implementation.

LOCATION INFORMATION: Connecticut

Connecticut
Connecticut photo by Ragesoss

Connecticut has a population of 3,518,288, which has grown by 3.31% over the past 10 years. Nicknamed the "Constitution State," its capital is Hartford, though its biggest city is Bridgeport. In 2008, there were a total of 2,279,011 jobs in Connecticut. The average annual income was $56,245 in 2008, up from $55,629 the previous year. The unemployment rate in Connecticut was 8.2% in 2009, which has grown by 2.6% since the previous year. Roughly 31.4% of Connecticut residents have college degrees, which is higher than the national average.

The top industries in Connecticut include petroleum bulk stations, sales financing, and paper product merchant wholesalers.