August saw a seven-year low for veteran unemployment, including an all-time low for Iraq and Afghanistan veterans. This statistic corresponds with a dip in unemployment across the board, the lowest since before President Obama took office in 2008.
The Bureau of Labor Statistics reported a drop to 4.2% in August, compared to 4.7% in July and 5.6% in August 2014. Experts warn not to have any long-term expectations when it comes to a still unstable job market, but the downward trend in both veteran and national unemployment is certainly encouraging.
The rate of younger veterans still searching for jobs was estimated to be 4.7% (134,000) in August. This is the first time unemployment has recorded below 5% among “Gulf War II” era veterans since the Labor Department began tracking figures for that group in September 2008.
The 4.2 percentage still means 450,000 veterans across America are looking for work. Hopefully with the White House’s veteran employment and transition initiatives, we will continue to see a downward slope in this figure.
If you’re a veteran and believe you may be eligible for VA benefits, the expert staff of Jan Dils, Attorneys at Law, can help. We will fight for the benefits you deserve, even if your claim has been denied.