Veterans jobless rate sees slight increase
By Debbie Gregory.
The good news for jobless veterans is that Veteran unemployment rate is lower than that for the civilian population. Historically, veterans have enjoyed higher rates of employment than the general public. Military service is such an advantage that, since 2006, the veteran unemployment rate has averaged a full percentage point below the national unemployment rate. Sources for veteran jobs can be found on the Veteran Job Board.
On Friday, the Labor Department’s Bureau of Labor Statistics reported the nation’s economy grew by 162,000 jobs.
Not only is the veteran unemployment rate lower than the national average, but perhaps even more significant is the fact that it’s trending distinctly downward—which is reflective of today’s recovering national economy.
The overall national unemployment rate for July was 7.4 percent, slightly down from June’s 7.6 percent rate.
For veterans, the July jobless rate is 6.4 percent for all generations, and 7.7 percent for Post-9/11-era veterans. In June, the unemployment rate for veterans of all generations was 6.3 percent. For post-9/11 veterans, the June rate was 7.2 percent.
The figures suggest that a vexing and stubborn trend of higher joblessness among veterans who left the military after September, 2001, has been reversed. It now appears that veterans are being hired at a faster rate than civilians.
Congress continues to work on legislation to help service members land post-service jobs. On July 24, the Senate Veterans’ Affairs Committee passed the Veterans’ Employment Opportunities Act that takes several steps to create jobs or help veterans qualify. The bill, S.6, also creates two test programs.
One is a three-year program to provide subsidies to employers who hire veterans under the age of 35, or between the ages of 55 and 65. The second, also a three-year test, creates internships with private sector employers for veterans who are ages 30 and younger.
Bill S.6 – Putting Our Veterans Back to Work Act of 2013, amends the VOW to Hire Heroes Act of 2011 and the Wounded Warrior Act, extending both programs through 2016, as well as extending the Veterans Retraining Assistance Program
Research seems to suggest that over the long term, serving in the military is beneficial. People who have been in the military tend to be better employees, and earn more. American businesses are starting to realize that Veterans make good employees.
