Post-9/11 Veteran Unemployment Rate Still Falling; At 8.9 Percent in JulyAugust 3, 2012
by Brandon Friedman
On Friday, the Bureau of Labor Statistics released Veteran unemployment data for the month of July. While the unemployment rate for all Veterans fell to 6.9 percent, the unemployment rate for Iraq and Afghanistan-era Veterans (or Gulf War II-era Veterans) fell more than half a percentage point to 8.9 percent. The steadier 12-month moving average also fell to 10.4 percent—the lowest figure we’ve seen since 2009.
While much remains to be done, since November 2011, post-9/11 Veterans have experienced the lowest unemployment rate in any combined eight-month period since 2008—with the rate reaching single digits in five of those months. Additionally, the trend over the past 31 months—since January 2010—remains downward for America’s most recent Veterans.
Month-to-month unemployment rate figures for this demographic are fairly volatile, but the long-term trend has shown a consistent decline over more than two and a half years—a strong sign of recovery following the worst economic recession since The Great Depression.
All that said, while we’re heartened that the unemployment rate among younger Veterans has fallen over the long term, too many returning Veterans still can’t find meaningful work.
That’s why VA is collaborating with the White House and the Chamber of Commerce on
hiring fairs across the country through the "Hiring Our Heroes" Program. It’s also why we’re urging Veterans to prepare themselves for the job market by taking advantage of programs like the Post-9/11 GI Bill and the Veterans Retraining and Assistance Program (VRAP).
If anything, today’s positive figure reminds us that there’s still much work to be done. VA, in conjunction with the White House, remains committed to ensuring that the unemployment rate for all Veterans continues its downward path.
