News: Unemployment Rate Among Vets Continues to Decrease
Based on data presented by the Bureau of Labor Statistics, the unemployment rate fell in June for the second straight month but unfortunately still sits at much higher than the numbers previously reported in March of this year.
In June, roughly 30,000 fewer Veterans applied for unemployment benefits when directly compared to May, which shifted the unemployment rate from 9% to 8.6% – to translate that percentage to a numerical value, almost 800,000 Veterans across the United States are still unable to find permanent employment.
Before COVID-19 became a horrific pandemic and uprooted life as we once knew it, the unemployment rate among the Veteran community was 4.1% – in the past, it has dropped as low as 2.3%.
(A job fair that was specially designed to help Veterans find jobs.)
Labor Statistics: The Facts & Figures
Officials at the Bureau of Labor Statistics announced the following information:
- At the end of 2019, the national rate of unemployment was roughly 3.7%.
- At the end of May 2020, the national rate of unemployment was 13.3%.
- At the end of June 2020, the national rate of unemployment was 11.1%.
What’s even more startling is that the group itself makes up nearly 40% of all veterans in the United States workforce.
Gulf War-era Veterans, who make up roughly 25% of working Vets saw their unemployment rate come in at around 6%.
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Marcari, Russotto, Spencer & Balaban is prepared to help veterans with benefits issues and to also pursue substantial relief for victims of various debilitating diseases or injuries, all of which are directly related to and in conjunction with prior military service.
If you or a loved one is a United States Veteran and is in need of help, please call us today at (866) 866-VETS or contact us online for a free consultation.
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