Overview
On Aug 2nd, the Bureau of Labor Statistics (BLS) reported that unemployment rate rose to 4.3 percent in July, and nonfarm payroll employment edged up by 114,000. Employment continued to trend up in health care, in construction, and in transportation and warehousing, while information lost jobs.[1] For veterans, unemployment increased from 2.8 percent in June to 3.0 percent in July 2024. Post-9/11 veteran unemployment decreased from 3.7 percent in June to 3.2 percent in July. The unemployment trend varies across different veteran demographic factors.
In terms of age, the unemployment rate for veterans aged 18-24 decreased from 12.3 percent in June to 5.7 percent in July. This rate was lower than that of their nonveteran peers, who had an unemployment rate of 9.4 percent in July. The unemployment rate for veterans aged 25-34 increased from 4.6 percent in June to 5.2 percent in July, which is higher than the unemployment rate for their nonveteran counterparts (4.9 percent). The unemployment rate for veterans aged 65 and older increased from 1.8 percent in June to 4.9 percent in July. Veterans aged 65 and older were unemployed at a higher rate than their nonveteran peers of the same age group, who had a rate of 4.1 percent.
For gender comparisons, the unemployment rate for female veterans increased from 3.2 percent in June to 5.0 percent in July, which is higher than the unemployment rate for female nonveterans (4.6 percent). The unemployment rate for male veterans decreased slightly from 2.8 percent in June to 2.7 percent in July, remaining lower than the rate for male nonveterans (4.3 percent).
The unemployment rate for Black or African American veterans decreased from 4.1 percent in June to 2.8 percent in July, which was lower than their nonveteran counterparts at 6.9 percent. The unemployment rate for Hispanic, Latino/a, or Spanish Origin veterans increased from 2.4 percent in June to 3.4 percent in July, which was lower than their nonveteran counterparts at 5.3 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 August 2, 2024. These are unpublished data from the Current Population Survey, not seasonally adjusted, and represent the period ending July 2024.
| UNEMPLOYMENT RATES FOR: | June 2024 | July 2024 | CHANGE (+/-) | Annual Averages 2023 |
| All Americans (18 and over) | 4.1 | 4.4 | +0.3 | 3.5 |
| All Veterans | 2.8 | 3.0 | +0.2 | 2.8 |
| Post-9/11 Veterans | 3.7 | 3.2 | -0.5 | 3.3 |
| Gulf-War I Era Veterans | 1.5 | 1.7 | +0.2 | 2.3 |
| WWII, Korean War and Vietnam Era | 1.9 | 5.8 | +3.9 | 2.5 |
| Other service period veterans | 2.5 | 3.0 | +0.5 | 2.4 |
| All Nonveterans | 4.1 | 4.4 | +0.3 | 3.6 |
| UNEMPLOYMENT RATES FOR VETERANS | ||||
| Demographic Category | June 2024 | July 2024 | CHANGE (+/-) | Annual Averages 2023 |
| 18–24 | 12.3 | 5.7 | -6.6 | 7.8 |
| 25-34 | 4.6 | 5.2 | +0.6 | 4.0 |
| 35-44 | 3.4 | 2.6 | -0.8 | 3.0 |
| 45-54 | 1.1 | 1.3 | +0.2 | 2.0 |
| 55-64 | 2.6 | 2.3 | -0.3 | 2.3 |
| 65 and older | 1.8 | 4.9 | +3.1 | 2.6 |
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| Male | 2.8 | 2.7 | -0.1 | 2.7 |
| Female | 3.2 | 5.0 | +1.8 | 3.2 |
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| White, Anglo, Caucasian | 2.6 | 2.8 | +0.2 | 2.7 |
| Black or African American | 4.1 | 2.8 | -1.3 | 3.3 |
| Hispanic, Latino/a, or Spanish Origin | 2.4 | 3.4 | +1.0 | 2.9 |
| Asian or Asian American | 2.6 | 7.6 | +5.0 | 2.5 |
| UNEMPLOYMENT RATES FOR POST-9/11 VETERANS | ||||
| Demographic Category | June 2024 | July 2024 | CHANGE (+/-) | Annual Averages 2023 |
| 18–24 | 12.3 | 5.7 | -6.6 | 7.8 |
| 25-34 | 4.6 | 5.2 | +0.6 | 4.0 |
| 35-44 | 3.3 | 2.4 | -0.9 | 2.8 |
| 45-54 | 2.4 | 1.5 | -0.9 | 2.0 |
| 55-64 | 1.3 | 2.0 | +0.7 | 2.8 |
| 65 and older | – | 6.7 | – | 1.1 |
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| Male | 3.8 | 2.8 | -1.0 | 3.2 |
| Female | 3.1 | 5.6 | +2.5 | 3.4 |
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| White, Anglo, Caucasian | 3.0 | 2.4 | -0.6 | 3.2 |
| Black or African American | 6.4 | 4.8 | -1.6 | 4.3 |
| Hispanic, Latino/a, or Spanish Origin | 3.1 | 3.8 | +0.7 | 3.8 |
| Asian or Asian American | 4.6 | 9.2 | +4.6 | 1.0 |
| UNEMPLOYMENT RATES FOR NONVETERANS | ||||
| Demographic Category | June 2024 | July 2024 | CHANGE (+/-) | Annual Averages 2023 |
| 18–24 | 9.3 | 9.4 | +0.1 | 7.5 |
| 25-34 | 4.5 | 4.9 | +0.4 | 3.9 |
| 35-44 | 3.3 | 3.4 | +0.1 | 2.8 |
| 45-54 | 2.6 | 3.1 | +0.5 | 2.5 |
| 55-64 | 2.9 | 3.0 | +0.1 | 2.6 |
| 65 and older | 2.9 | 4.1 | +1.2 | 2.8 |
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| Male | 4.0 | 4.3 | +0.3 | 3.8 |
| Female | 4.2 | 4.6 | +0.4 | 3.4 |
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| White, Anglo, Caucasian | 3.6 | 4.0 | +0.4 | 3.2 |
| Black or African American | 6.5 | 6.9 | +0.4 | 5.5 |
| Hispanic, Latino/a, or Spanish Origin | 4.7 | 5.3 | +0.6 | 4.5 |
| Asian or Asian American | 4.3 | 3.6 | -0.7 | 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/archives/empsit_08022024.pdf