National Hire a Veteran Day takes place each year on July 25th. As part of the national campaign, companies pledge to make a commitment to providing military veterans with employment opportunities. A closer look at the veteran unemployment numbers reveals why initiatives like National Hire a Veteran Day are so important.
So let’s take a look at some numbers, shall we?
Numbers are Saying Hiring Veterans is a Good Business Practice
It is no secret the value that military veterans can bring to the civilian workforce. All those years spent refining their leadership, core values and discipline make veterans ideal candidates for any organization. They are coachable, open to training and willing to meet the challenges of assimilating to a new way of life head on.
These statements are fairly obvious at this point. The great news is that American companies also agree with the sentiment that veterans are better off for having served.
According to the Bureau of Labor Statistics, as of June 2018, the unemployment rate for military veterans was 3.3%, which is down from 3.7% in June 2017. In terms of real numbers, the unemployment of military veterans over the 12 month period from June 2017 to June 2018 went down by 63,000, from 378,000 veterans unemployed to 315,000.
The gender breakdown is interesting, as well.
According to the Bureau of Labor Statistics, the unemployment numbers for male veterans didn’t change drastically, as it decreased from 307,000 to 293,000. But the numbers for female veterans changed at a staggering clip. From June 2017 to June 2018 the unemployment of female military veterans went from 71,000 all the way down to 23,000.
For comparison, the national unemployment rate of non-military veterans, as of June 2018 was 4%, while the overall unemployment rate of veterans stood at 3.3%.
*Numbers on chart reflected in thousands
(From Bureau of Labor Statistics)
Movement Towards Hiring Veterans
Over the last decade there has been a push throughout this country to hire military veterans and their spouses. Companies have developed their own internal veteran affairs teams to help recruit and on-board veterans. To see companies taking actual operational dollars and investing them into military veterans is not simply done because of some sort of good-will public relations gimmick. On the contrary, companies are spending money to recruit veterans because they represent some of the strongest candidates available.
Veterans do not want to be recruited for positions strictly because of their veteran status. They want to be recruited because of their qualifications and strong character.
Companies investing such great amounts of money into their veteran programs has given way to ratings systems, such as Military Friendly®, which uses public as well as company provided data to develop a listing of companies that are showing the strongest commitment to not only hiring veterans, but retaining and empowering them. It helps keep companies accountable for their actions. In other words, if they’re going to talk the talk when it comes to recruiting veterans, they better walk the walk as well.
There is also the Federal Contractor Program now, which says that:
Any contractor or subcontractor with a contract of $25,000 or more with the federal government must take affirmative action to hire and promote qualified targeted veterans which includes, special disabled veterans, veterans of the Vietnam era, any other veterans who served on active duty during a war or in a campaign or expedition for which a campaign badge has been authorized, and any veteran during the one-year period beginning on the date of such veteran’s discharge or release from active duty. (From the Department of Labor)
All of these efforts have helped drop the veteran unemployment rate to landmark lows. Hopefully this trend continues into the future.
How Can We Help?
Here at G.I. Jobs we have been helping veterans through the transition process since 2002 by providing them with job search resources and by connecting them with companies that want to hire veterans. We take pride in helping veterans find careers that not only pay the bills, but utilize the skills which make them so valuable.
If you’re a veteran be sure to take a look at our job board, which is filled with companies that want to hire you!