Vets Unemployment Up In July, Still Under 7 Percent
by: Troops to Trades
August 7, 2015
By George Altman
The unemployment rate for the latest generation of veterans moved upward by more than a point in July, yet it still remained below 7 percent, government data shows.
Meanwhile, the U.S. tacked on 215,000 jobs in July to post an overall unemployment rate of 5.3 percent, identical to the rate charted the previous month, according to the Bureau of Labor Statistics.
July’s 6.7 percent unemployment rate for post-9/11 veterans appears to be a big jump from June’s 5.4 percent. But such volatility is common for the statistic, which is based on a very small sample size.
Statisticians suggest focusing more on long-term trends than any one month’s numbers — those long-term trends have been unambiguously positive for the country’s newest vets.
In 2010 and 2011, nearly every month’s unemployment rate was in double-digits for post-9/11 vets. Rates slowly started dropping in 2012, and that decrease has steadily continued, reaching dramatic levels this year. In every month other than January, the unemployment rate has held below 7 percent — figures that would have been hard to imagine for most of the measure’s history.
For veterans of all generations, unemployment was at 4.7 percent in July, a slight uptick from the June rate of 4.4 percent.