Friday, July 5, 2013

Unemployment Rate For Post-9/11 Veterans Falls To Lowest Level In Years

While the unemployment rate for all veterans fell below the national unemployment rate months ago, one group of veterans — those who have served since September 11, 2001 in Iraq and Afghanistan — continued to lag behind as the rest of the job market recovered.

But in the last few months, the unemployment rate for so-called Gulf War II era veterans — defined by the BLS as those who served in the Armed Forces sometime since September 2001 and have since returned to civilian life — has steadily declined, even eventually dipping below the national unemployment rate for the first time since February 2012.

That trend continued on Friday, when the Bureau of Labor Statistics released its June jobs report showing that the unemployment rate for this newest group of veterans fell to just 7.2 percent last month, its lowest level ever since the BLS regularly began tracking veterans’ unemployment rates in 2009. June also marks the fifth consecutive month in which the unemployment rate for new veterans has fallen.

The unemployment rate for veterans overall still remains lower than the national average, at just 6.3 percent.

A coalition of businesses and officials in the Obama administration have placed a premium on the hiring of veterans. Legislation like the VOW to Hire Heroes Act of 2011 offer businesses tax credits for each veteran a company hires and strengthens federal transition assistance programs, while companies like Tesla Motors, Southwest Airlines and JPMorgan Chase have been commended by veterans groups like the Iraq and Afghanistan Veterans of America (IAVA) for their commitment towards the hiring of returning veterans.

First Lady Michelle Obama has also made a big effort to help transition veterans into civilian jobs upon their return, most recently with the announcement of a new credentialing program that aims to help veterans acquire the necessary civilian certification for jobs in the IT industry.

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