In April, veteran unemployment fell below 3% for the second month in a row, indicating that the American labour market is nearing full recovery from the two-year coronavirus outbreak.
According to the Bureau of Labour Statistics, the unemployment rate for veterans was 2.9% last month, up slightly from 2.6% in March. It's the first time the statistic has been below 3% for two months in a row since early 2019 before the epidemic triggered widespread business closures and job losses.
In a statement released after the BLS data, President Joe Biden said that the news proves the country is witnessing "the strongest job creation economy in recent times."
In April 2021, the unemployment rate for veterans was 5.2%, while the overall unemployment rate was 6.1%.
Veterans of all conflicts were less likely to find jobs in April, down from 3.4% in March to 3.4%. This generation of veterans represents the largest in the United States today, with nearly 3.8 million workers.
Approximately half of the projected 260,000 veterans seeking employment were from this younger cohort last month. An estimated 480,000 veterans were looking for full-time work a year ago.
Recent data has shown that a successful transition to civilian life can alleviate a number of potential stresses for military families, which has been the focus of the White House and Congress in recent years.
In its latest news report, the Bureau of Labor Statistics estimates that 23% of veterans will work for local, state, or federal governments in 2021.
Veterans were most likely to work in manufacturing, business service occupations, education, and health services last year racking up almost a third of all veterans' jobs.