Are you wondering how veterans are faring in the job market? The U.S. Bureau of Labor Statistics recently came out with its unemployment figures for veterans in 2011, and here are their findings:
Overall, there are positives and negatives to be found in the data. The unemployment rate for veterans who served in the military at any time since September 2001 -- a group referred to as Gulf War-era II veterans -- was 11.5% in 2010.
However, the jobless rate for veterans of all eras combined was 8.7%, compared with 9.4% for non-veterans. About 25% of Gulf War-era II veterans reported having a service-connected disability in July 2010, compared with about 13% of all veterans.
Other highlights from the 2010 data:
- Young male veterans (ages 18-24) who served during the Gulf War era II had an unemployment rate of 21.9% in 2010, which was relatively close to the jobless rate of young male nonveterans (19.7%).
- Male Gulf War-era II veterans ages 18-24 were more likely to participate in the labor force in 2010 than their non-veteran counterparts (74%, compared to 67.5%).
- Among all veterans, those with a service-connected disability had an unemployment rate of 9.1% in July 2010, about the same as the rate for veterans with no disability (8.7%).
- About one-third of employed veterans with a service-connected disability worked in the public sector in July 2010; one in five veterans with a disability were employed by the federal government.
- Gulf War-era II veterans who were current or past members of the Reserve or National Guard had an unemployment rate of 14.0% in July 2010, compared with a rate of 12.1% for those veterans who had not been members.
- Regardless of their period of service, unemployment rates in 2010 for veterans with higher levels of education were lower than for those with less education.
Is there a light at the end of the tunnel when it comes to veteran employment? It's difficult to say at this point. The overall veteran unemployment rates so far in 2011 are still on the high side; 15.2% of Gulf War-era II veterans were unemployed in January and 12.5% in February.
For the full stats and more details, see the Department of Labor report.
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