Overview
On March 8, the Bureau of Labor Statistics (BLS) reported that employment rose by 275,000 in February, and the unemployment rate increased to 3.9 percent. Job gains occurred in health care, in government, in food services and drinking places, in social assistance, and in transportation and warehousing.[1] For veterans, unemployment decreased from 3.3 percent in January 2024 to 2.9 percent in February 2024. Post-9/11 veteran unemployment also decreased, moving from 3.7 percent to 2.5 percent in February. The overall unemployment trend shows variations by different veteran demographic factors, with some groups being more affected than others.
Regarding age, the unemployment rate for veterans aged 18-24 decreased in February, falling from 11.0 percent to 5.7 percent. The unemployment rate for veterans aged 25-34 decreased from 6.7 percent to 5.1 percent. During this period, veterans aged 18-24 had lower unemployment rates compared to their nonveteran peers of the same age group (8.7 percent), whereas veterans aged 25-34 had higher unemployment rates compared to their nonveteran counterparts in the same age group (4.7 percent). The unemployment rate for veterans aged 65 and older decreased in February, going from 3.3 percent to 3.0 percent. Veterans aged 65 and older were unemployed at a lower rate as their nonveteran peers of the same age group in February (3.2 percent).
The unemployment rate for female veterans decreased in February, falling from 4.8 percent to 2.2 percent. In comparison, female nonveterans had an unemployment rate of 3.8 percent. The unemployment rate for male veterans decreased in February, to 3.0 percent. By comparison, male nonveterans had an unemployment rate of 4.5 percent. The unemployment rate for Black or African American veterans decreased from 3.4 percent to 2.6 percent in February. This rate was lower than the unemployment rate for their nonveteran counterparts (5.8 percent). The unemployment rate for Hispanic, Latino/a, or Spanish Origin veterans decreased from 5.4 percent to 3.4 percent in February, which was lower than the unemployment rate of their nonveteran counterparts (5.4 percent). However, readers should be cautioned that data on specific veteran subgroups can vary widely from month to month.
Demographics & Trends
The following tables summarize the employment situation of veterans in America based on BLS data released on March 8, 2024. These are unpublished data from the Current Population Survey, not seasonally adjusted, and represent the period ending February 2024.
| UNEMPLOYMENT RATES FOR: | January 2024 | February 2024 | CHANGE (+/-) | Annual Averages 2023 |
| All Americans (18 and over) | 4.0 | 4.1 | +0.1 | 3.5 |
| All Veterans | 3.3 | 2.9 | -0.4 | 2.8 |
| Post-9/11 Veterans | 3.7 | 2.5 | -1.2 | 3.3 |
| Gulf-War I Era Veterans | 3.6 | 2.7 | -0.9 | 2.3 |
| WWII, Korean War and Vietnam Era | 3.0 | 5.0 | +2.0 | 2.5 |
| All Nonveterans | 4.0 | 4.1 | +0.1 | 3.6 |
| UNEMPLOYMENT RATES FOR VETERANS | ||||
| Demographic Category | January 2024 | February 2024 | CHANGE (+/-) | Annual Averages 2023 |
| 18–24 | 11.0 | 5.7 | -5.3 | 7.8 |
| 25-34 | 6.7 | 5.1 | -1.6 | 4.0 |
| 35-44 | 2.5 | 1.1 | -1.4 | 3.0 |
| 45-54 | 2.2 | 2.4 | +0.2 | 2.0 |
| 55-64 | 2.6 | 3.3 | +0.7 | 2.3 |
| 65 and older | 3.3 | 3.0 | -0.3 | 2.6 |
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| Male | 3.1 | 3.0 | -0.1 | 2.7 |
| Female | 4.8 | 2.2 | -2.6 | 3.2 |
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| White, Anglo, Caucasian | 3.0 | 2.8 | -0.2 | 2.7 |
| Black or African American | 3.4 | 2.6 | -0.8 | 3.3 |
| Hispanic, Latino/a, or Spanish Origin | 5.4 | 3.4 | -2.0 | 2.9 |
| Asian or Asian American | 6.8 | 4.3 | -2.5 | 2.5 |
| UNEMPLOYMENT RATES FOR POST-9/11 VETERANS | ||||
| Demographic Category | January 2024 | February 2024 | CHANGE (+/-) | Annual Averages 2023 |
| 18–24 | 11.0 | 5.7 | -5.3 | 7.8 |
| 25-34 | 6.7 | 5.1 | -1.6 | 4.0 |
| 35-44 | 1.8 | 1.0 | -0.8 | 2.8 |
| 45-54 | 2.7 | 1.6 | -1.1 | 2.0 |
| 55-64 | 0.8 | 1.7 | +0.9 | 2.8 |
| 65 and older | – | – | – | 1.1 |
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| Male | 3.5 | 2.6 | -0.9 | 3.2 |
| Female | 4.6 | 2.2 | -2.4 | 3.4 |
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| White, Anglo, Caucasian | 3.2 | 2.1 | -1.1 | 3.2 |
| Black or African American | 4.8 | 4.2 | -0.6 | 4.3 |
| Hispanic, Latino/a, or Spanish Origin | 6.6 | 2.9 | -3.7 | 3.8 |
| Asian or Asian American | 1.2 | 1.5 | +0.3 | 1.0 |
| UNEMPLOYMENT RATES FOR NONVETERANS | ||||
| Demographic Category | January 2024 | February 2024 | CHANGE (+/-) | Annual Averages 2023 |
| 18–24 | 7.6 | 8.7 | +1.1 | 7.5 |
| 25-34 | 4.3 | 4.7 | +0.4 | 3.9 |
| 35-44 | 3.4 | 3.3 | -0.1 | 2.8 |
| 45-54 | 3.2 | 3.0 | -0.2 | 2.5 |
| 55-64 | 2.9 | 3.0 | +0.1 | 2.6 |
| 65 and older | 4.0 | 3.2 | -0.8 | 2.8 |
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| Male | 4.6 | 4.5 | -0.1 | 3.8 |
| Female | 3.4 | 3.8 | +0.4 | 3.4 |
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| White, Anglo, Caucasian | 3.8 | 3.7 | -0.1 | 3.2 |
| Black or African American | 5.6 | 5.8 | +0.2 | 5.5 |
| Hispanic, Latino/a, or Spanish Origin | 5.7 | 5.4 | -0.3 | 4.5 |
| Asian or Asian American | 2.9 | 3.4 | +0.5 | 3.0 |
NOTE: Although the BLS reports the national average for those 16 and over, the tables above include only those that are 18 and over to make a more accurate comparison to the veteran population. Post-9/11 are of the Gulf War Era II (September 2001-present). Other periods of service include Gulf War Era I (August 1990-August 2001), Vietnam Era (August 1964-April 1975), Korean War (July 1950-January 1955), World War II (December 1941-December 1946). Veterans who served in more than one wartime period are classified only in the most recent one. Veterans who served during one of the selected wartime periods and another peacetime period are classified only in the wartime period. The minority-by-gender unemployment rates are not displayed due to small sample size and are more appropriately displayed as annual averages.
[1] https://www.bls.gov/news.release/empsit.nr0.htm