Veteran Unemployment Declines

Unemployment among American veterans declined in 2015, according to new figures from the U.S. Bureau of Labor Statistics.

In very welcome news, the unemployment rate for veterans who served on active duty in the U.S. Armed Forces at any time since September 2001–a group referred to as Gulf War-era II veterans–declined by 1.4 percentage points over the year to 5.8% in 2015.

BLS said that this information was obtained from the Current Population Survey (CPS), a monthly sample survey of about 60,000 households that provides data on employment and unemployment in the United States.

Data about veterans are collected monthly in the CPS.

Among veterans, the unemployment rate for male veterans overall was lower than the rate for female veterans in 2015. The unemployment rate for male veterans declined to 4.5%. The rate for female veterans changed little at 5.4%.

Of the 495,000 veterans who were unemployed in 2015, 57% were age 45 and over. Around 37% were age 25 to 44, and 5% were age 18 to 24.

Veterans with a service-connected disability had an unemployment rate of 5.4% in August 2015, not statistically different from veterans with no disability.

Copyright Today’s Credit Unions