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VETS News Release: [5/26/2005]
Contact Name: Mike Biddle
Phone Number: 202-693-4676 or x5051
Release Number: 06-0931-NAT
Bureau of Labor Statistics’ Supplemental Survey Shows Veterans’ Overall Unemployment Rate is Lower Than That of Nonveterans
In Only One Age Group is the Unemployment Rate Higher
WASHINGTON — The U.S. Department of Labor's Bureau of Labor Statistics (BLS) today announced the results of the Biennial Employment Situation of Veterans survey as of August 2005, which showed the overall veterans' unemployment rate is lower than that of nonveterans. The veterans' survey is published once every two years as a supplement to BLS's monthly Current Population Survey.
"The report shows that, overall, the employment of America's veterans is strong," said Charles Ciccolella, assistant secretary of labor for Veterans Employment and Training. "In August 2005, the veterans' unemployment rate was 3.9 percent, 0.8 percent lower than that of nonveterans. On an annual basis, veterans' unemployment was 4 percent in 2005, which is 0.6 percent below that of nonveterans."
That said, there is one age group of veterans — 20-to-24-year-olds — where the unemployment rate is higher than that of nonveterans of the same age group. In August 2005, those veterans had an unemployment rate of 18.7 percent compared with their nonveteran counterparts. For all of 2005, the annual rate was 15.6 percent for 20-to-24-year-old veterans compared with 8.7 percent for nonveterans in that age group.
"The U.S. Department of Labor has undertaken several initiatives to address this situation," said Ciccolella. "In cooperation with the Department of Defense, the Department of Labor conducts transition assistance employment workshops for members of the military who are scheduled for discharge. We are also collaborating with the Department of Veterans Affairs on a survey of young veterans to gain a better understanding of the reasons for this higher rate.
"But I am encouraged that veterans overall, for at least the 20th year in a row, have a lower unemployment rate than nonveterans," he said. "This shows that America's employers realize the value veterans bring to the work force, which is also what we are telling them in our HireVetsFirst campaign."
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