Veterans’ unemployment rate falls

by lmallernee | November 21st, 2012

November 21, 2012

The unemployment rate for military veterans is decreasing, according to Vantage Point.

The Bureau of Labor Statistics reports that the unemployment rate for all veterans in October is 6.3 percent–below the national average of 7.9 percent. For post-9/11 veterans, the rate is about 10 percent.

There has been a moderate—but definitive—decline in the unemployment rate of veterans for the last three years.

Post-9/11 veterans are experiencing a downward trend in unemployment in the past three years as well. For Iraq and Afghanistan-era veterans or Gulf War-era veterans, the long term trend shows a consistent decline in unemployment.

The unemployment rate among post-9/11 veterans over the past 12 months has now fallen to 10.2 percent—the lowest average unemployment rate during this administration.

According to this article, “This is the strongest sign yet of recovery in the area of veteran employment following the worst economic recession since The Great Depression.”

While the numbers are encouraging, many veterans still cannot find work.

The Veterans Administration is collaborating with the White House and the Chamber of Commerce on hiring fairs across the country through the “Hiring Our Heroes” Program.

Veterans may need to take advantage of programs like the Post-9/11 GI Bill and the Veterans Retraining and Assistance Program (VRAP).

If you or someone you love needs help with veterans disability benefits, the Ohio personal injury lawyers at Nurenberg, Paris, Heller & McCarthy may be able to help.