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Post-9/11 veteran unemployment is up in March, still among record lows

April 1, 2016 (Photo Credit: Art Photo Solutions for U.S. Chamber of Commerce)

The unemployment rate for the latest generation of veterans jumped more than a point and a half in March, but even this higher number is the lowest March rate ever recorded for the group, according to government data.

March's rate for post-9/11 veterans was 6.3 percent, up from February's 4.7 percent but lower than the 6.5 percent posted in March 2015, the previous March low, according to the Bureau of Labor Statistics.

Such a month-to-month change, while large, is relatively common for the rate, which relies on a very small sample size that can be particularly volatile as a result. Rather than focusing on any one month's rate, statisticians recommend looking for larger trends over a period of months.

For the past two years, employment for post-9/11 veterans, a measure that started in September 2008, has been nearing, breaking and re-breaking all-time record lows. The annual rate for the group in 2015 was 5.8 percent, the lowest ever recorded and a significant drop from the 2014 annual rate of 7.2 percent, which was itself a record low.

Overall, the U.S. added 215,000 jobs in March, while the U.S. unemployment rate ticked to 5.0 percent from the February rate of 4.9 percent.

For veterans of all generations, unemployment rose to 4.5 percent in March, up from 4.1 percent in February.

 

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March unemployment rates.
Photo Credit: Staff
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