The Bureau of Labor Statistics (BLS) released employment numbers for November 2016 which show that the national unemployment fell to 4.6% from 4.9%; but unfortunately veteran unemployment has increased from 4.3% to 4.8%! This is a rare occurrence, as national veteran unemployment usually lags the national civilian unemployment rate, and it shows a seesaw effect.
On the other hand, most economists believe that unemployment numbers below 5% are just an indication of normal churn caused by people moving between jobs. In other words, it’s just natural unemployment.
Let us look deeper at the veteran employment statistics to understand if the situation is in need of any serious intervention.
The following table looks at veteran employment numbers, such as age and ethnic backgrounds, and throws light on the fact that veteran unemployment rightly trends lower than the general unemployment levels, except for the veterans in the age bracket of 18-24 years.
The fact that the American economy is not generating the 200,000 to 250,000 new jobs a month it needs in order to assimilate new entrants to the workforce, is hampering the strengthening of the job market. In fact, 2016 has averaged just 180,000 new jobs a month compared to the 229,000 per month in 2015, leaving the labor force participation rate static at about 62.7%.
Employment is an important issue for a returning veteran, and some of them may need to find guidance on how to find jobs, make smart career decisions and fit themselves into the civilian workforce by finding employers who are committed to hiring veterans.
Every veteran is trained to focus entirely on accomplishing the mission, taking responsibility, co-operating in a team situation while being offered the highest opportunity for personal development. Employers and staffing suppliers will need to visualize how these specific military skills will translate to the role requirements of the openings they have. Though job selection is found to vary with the veteran’s era of service as well as gender, it has been found that women veterans have historically preferred roles in healthcare, while veterans in general are primarily found in technology-based or mathematical roles.
It’s clear from the statistics that younger veterans are facing typically higher unemployment levels compared to the older and more skilled veterans. But even these would prove ideal for roles which have a period of internship during which the worker is groomed into taking over the job responsibilities. Employers stand to benefit from hiring veterans, and enjoying the critical skills and attributes which are a hallmark of their service in the armed forces.
Mail (will not be published) (required)
− 4 = one
Thanks for Subscribing to DCR Blog.