VETERAN UNEMPLOYMENT REPORTGeneral Summary
The BLS CPS report states there were 21,384,000 veterans alive in July, down from 21,412,000 in June, a loss of 28,000 veterans in July. This continues the trend of the shrinking veteran population due in large part to having an all-volunteer force since 1972 and not having a military draft. There were nearly sixty million veterans alive at the end of the Vietnam War. America has lost two thirds of the veterans in the last 41 years.
There were 10,923,000 veterans in the workforce in July, a decline of 27,000 from the 10,950,000 in June.
The CPS overall veteran unemployment rate for all veterans in July rose marginally to 6.4%. The rate in June was 6.3%. This is an increase of 0.1%. There were 702,000 unemployed veterans in June, up 15,000 from the 687,000 unemployed veterans in June.
The fact that the veteran unemployment rate remains lower than the non-veteran unemployment rate continues to be good news. The above information continues a positive trend for veterans. As the veteran unemployment rate remains lower than the non-veteran unemployment rate again reinforces the fact that veterans as a class continue to have better success finding employment than non-veterans!
An area where there has been a veteran unemployment issue over the last six years since the current call up policy was implemented on January 11, 2007 has been in the 18 to 24 year old group and the 25 to 29 year old group which make up a large part of the National Guard and Reserve (NG&R). The news for younger veterans continues to be mixed.
The unemployment rate for the 18 to 24 year old veterans in July fell to 17.4% (28,000) from 20.5% (34,000) in June. There are 34,000 18 to 24 year old veterans not in the labor force who are probably in school or technical training programs or may be disabled.
The unemployment rate for the 25 to 29 year old veterans in July rose to 12.3% (68,000) from June’s 10.0% (53,000). This reverses the trend of the 25 to 29 year old veterans who had been having a falling unemployment rate.
For comparison, the CPS overall unemployment rate for all 18 to 24 year olds (veterans and nonveterans) in July was 14.2% (2,938,000), down from the June rate of 16.3% (3,397,000). The unemployment rate for all 25 to 29 year olds in July was 8.4% (1,416,000), up from the June rate of 8.1% (1,363,000),
The fact that veterans are having better success at finding jobs than their civilian counterparts is good, but there are veterans who are having problems for a variety of reasons.
Of the 702,000 unemployed veterans in July, 675,000 were over the age of 25. This is an increase of 24,000 from the 651,000 in June. The unemployment rates for the older veteran groups are as follows:
30 to 34 year olds 3.1% (25,000) 5.4% (112,000
35 to 39 year olds 7.5% (65,000) 4.5% (39,000)
40 to 44 year olds 5.6% (68,000) 6.0% (73,000)
45 to 49 year olds 4.3% (59,000) 5.0% (66,000)
50 to 54 year olds 7.0% (104,000) 7.4% (107,000)
55 to 59 year olds 7.1% (97,000) 7.1% (102,000)
60 to 64 year olds 6.5% (81,000) 4.8% (61,000)
65 year olds and over 5.8% (109,000) 6.8% (128,000
Like last month, these numbers indicate the emphasis for helping veterans with employment may need to add emphasis to the older veterans, especially those in their 50s and older as they now have higher unemployment numbers.
The publicity of younger veterans having problems promoted by the White House, the US Chamber of Commerce (USCC), National Federation of Independent Businesses (NFIB), veteran service organizations like the Veterans of Foreign Wars (VFW), American Legion (Legion), Vietnam Veterans of America (VVA), Iraq & Afghanistan Veterans of America (IAVA), Student Veterans of America (SVA) and veteran employment sites like VetJobs (www.vetjobs.com) has been very successful. Now the same attention needs to be directed towards older veterans.
The unemployment rate for women veterans in July dropped to 6.6% (92,000) from June’s 7.6% (107,000). This is a decrease of 1.0% (15,000). This is good as the unemployment rate for women veterans had been climbing. In comparison, the unemployment rate for all women (veteran and non-veteran) in July was 7.3% (5,263,000), down from the June rate of 7.4% (5,370,000).
The unemployment rate for 18 to 24 year old women veterans in July was 8.3% (3,000) down from the June rate of was 9.0% (4,000). This was a decrease of 0.7% (1,000). In contrast, the unemployment rate for all 18 to 24 women (veteran and non-veteran) in July was 12.6% (1,241,000), down from the June rate of 14.6% (1,453,000).
Gulf War II Veterans
The unemployment rate for Gulf War II era veterans in July was 7.7% (166,000), up from the June rate of 7.2% (160,000), an increase of 0.5% (6,000). This reverses the downward trend in unemployment for the Gulf War II veterans.
The unemployment rate for Black veterans in July dropped to 7.2% (102,000), down from the June rate of 10.3% (154,000). In contrast, the unemployment rate for all Blacks in July was 12.6% (2,329,000) which represents a decrease from the June rate of 13.7%, (2,549,000). These numbers lend credence to the benefits of minorities having joined the military!
The unemployment rate for Asian veterans in July was 5.1% (8,000), an increase from the June rate which was 4.2% (7,000). The Asian veteran unemployment rate had been steadily moving downwards before this increase. In contrast, the unemployment rate for all Asians is 5.4% (458,000).
The unemployment rate for Hispanic veterans in July was 7.3% (62,000), a marginal increase from the June rate which was 7.2% (67,000). In comparison, the unemployment rate for all Hispanics (veteran and non-veteran) in July was 8.9% (2,181,000), an increase from the June rate of 8.7% (2,144,000).
A decade of sustained combat operations and the resultant pressure they have placed on military members and their families is taking a deadly toll on the nation’s armed forces, particularly the U.S. Army, which has seen record-high suicide rates in 2012, according to Pentagon figures.
“Last year the White House announced a new plan to tackle the high rate of unemployed veterans. Today the president and first lady announced that the ‘Joining Forces’ program was months ahead of schedule and has already helped 290,000 veterans or family members find work or receive career training. While I applaud the focus on tackling the problem of veteran unemployment, there is still more work to be done. As a member of the Congressional Veterans Jobs Caucus I am actively involved in finding ways to buck the trend of high veteran unemployment.
Governor Pence travels to Fort Wayne today where he will sign the Soldier‘s Tuition bill into law. The bill provides Indiana‘s veteran‘s in-state tuition to the state‘s colleges and universities. Senator Jim Banks (R-Columbia City), who authored the bill, says it is a win-win for Indiana and veterans.
It’s important to understand that our stated mission to employ our heroic armed forces after they have served doesn’t just mean creating jobs. It also means connecting each individual person with a job. And that is a system that is not just in trouble — it’s also dangerous. Because unless you pull back the curtain and look backstage, that system looks fine. Big whirring human resource machines, equipped with measurements, and cubicles and power points and everything. With all of that, the system as it is should work perfectly, right?
U.S. Sen. Tim Kaine’s (D-Va) bill to help veterans find employment and other resources more easily once entering civilian life was introduced Monday to the U.S. House of Representatives. The Troop Talent Act of 2013 is designed to help veterans effectively translate their military skills and credentials into civilian employment, Kaine said.
MINNEAPOLIS–(BUSINESS WIRE)–U.S. Bank has surpassed its military hiring goal for 2012, in time to mark the Veterans Day holiday. U.S. Bank now employs more than 2,300 veterans nationwide, and continues in its efforts to recruit veterans.
“Thank you for your service.” As we commemorate Veteran’s Day, this simple expression of gratitude is undoubtedly appreciated by many of our service members, past and present, but many of America’s veterans could also use something else — a job. According to the U.S. Bureau of Labor Statistics, of the nation’s 21 million veterans, 11 million — more than half — are still in the workforce. Of those, 735,000 were unemployed in September 2012. The overall unemployment rate for veterans of 6.7 percent is slightly better than the national rate of 7.8 percent, but for “Gulf War era-II” veterans, the rate is 9.7 percent. For women veterans of the most recent era, it’s a staggering 19.9 percent.
It pays to be a veteran, and nowhere more so than in the Pentagon’s home state of Virginia, where ex- military personnel take home almost 72 percent more than those who’ve never served. The BGOV Barometer shows the median annual income for veterans is an average of 44 percent more than for nonveterans nationwide, and even higher in states with big military bases such as South Carolina, according to data compiled by Bloomberg. One reason for the gap is many veterans retire early from the military, and simultaneously collect federal pensions and paychecks from their second careers.