navigation-background arrow-down-circle Reply Icon Show More Heart Delete Icon wiki-circle wiki-square wiki arrow-up-circle add-circle add-square add arrow-down arrow-left arrow-right arrow-up calendar-circle chat-bubble-2 chat-bubble check-circle check close contact-us credit-card drag menu email embed facebook snapchat-circle facebook-square facebook faq-circle faq film gear google-circle google-square googleplus history home instagram-circle instagram-square instagram linkedin-circle linkedin-square linkedin load monitor Video Player Play Icon person pinterest-circle pinterest-square pinterest play readlist remove-circle remove-square remove search share share2 sign-out star trailer trash twitter-circle twitter-square twitter youtube-circle youtube-square youtube

Unemployment rate for young vets up again in January

February 3, 2017 (Photo Credit: Mike Groll/AP)
WASHINGTON -- The unemployment rate for the youngest generation of veterans jumped to 6.3 percent in January, the fourth time in the last seven months that group’s figure has been substantially higher than the overall veteran rate.

The figures from the Bureau of Labor Statistics, which reflect the last month of President Barack Obama’s time in office, represent about 211,000 Iraq and Afghanistan era veterans looking for work. That’s almost 46 percent of the total of all U.S. veterans filing for unemployment benefits in January.

But employment experts have cautioned that employment estimates for the subset of younger veterans can be prone to more fluctuation than other calculations by BLS analysts, because of smaller sample sizes.

In December, the Iraq and Afghanistan era veterans rate was 5.7 percent. In September, it was even lower, at 4.4 percent.  

Still, the higher number of unemployed younger veterans does raise concerns of new struggles for that group, because most monthly estimates for the last two years have been at or below the national unemployment rate.

For all veterans, the January unemployment rate was 4.5 percent, up slightly from the month before but under 5 percent for the 20th consecutive month.

The national unemployment rate was 4.8 percent, up from 4.7 percent in December.



BLS officials estimate that nearly 9.8 million veterans are in the U.S. workforce today, with roughly 32 percent of them having served in the military after 2001.


 
Leo Shane III covers Congress, Veterans Affairs and the White House for Military Times. He can be reached at lshane@militarytimes.com.
Next Article