It Was a Hot August For Post-9/11 Vet Employment
by: Troops to Trades
September 2, 2016
By George R. Altman
The unemployment rate for post-9/11 veterans dropped below 5 percent again in August, government data show.
August’s 4.7 percent rate, down from 5.9 percent in July, equals the August 2015 rate, according to the Bureau of Labor Statistics. At the time that rate came out in 2015, it was the lowest ever recorded for the nation’s newest generation of veterans and the first time in the history of the measure, which dates to September 2008, that unemployment dipped below 5 percent.
In seven of the 12 months after breaking the 5 percent mark last year, the unemployment rate for post-9/11 veterans has again been charted below 5 percent, even coming close to dipping below 4 percent last April and May.
Statisticians caution against focusing on any one month’s unemployment figures, as the numbers can take large swings that have more to do with the very small sample size of the metric than with actual changes in the employment situation for post-9/11 veterans. But far from being at outlier, last month’s unemployment figures are much in line with a years-long trend of unemployment figures consistently charting new lows.
The nation as a whole added 151,000 jobs in August, with a 4.9 percent unemployment rate.
Veterans of all generations chalked up a 4.3 percent unemployment rate last month, down slightly from 4.7 percent in July.