Labor Department Says Unemployment Rate for Young Veterans Has Dropped

According to the U.S. Labor Department (Department of Labor), the unemployment rate for veterans ages 20-24 fell to 10.4 percent in 2006 from 15.6 percent in the previous year. This is according to data released last week by the U.S. Department of Labor’s Bureau of Labor Statistics. The drop in the young veterans’ unemployment rate is the largest decline in more than a decade. The unemployment rate for all veterans remained lower than that of non-veterans.

Here’s more from their official press release recently:

The department’s Veterans’ Employment and Training Service (VETS) operates a number of programs to protect the employment rights of veterans and to help them succeed in the 21st century workforce.

Prior to a service member’s separation from the military, VETS conducts employment workshops under the Transition Assistance Program. Young veterans are referred to one of the country’s 3,400 comprehensive and affiliate One- Stop Career Centers where personalized assistance is available to find jobs and build the skills they need to succeed in the civilian labor force. In addition, VETS continues to collaborate on research to better understand the specific issues young veterans face as they transition to civilian jobs.

VETS also conducts outreach to employers through the HireVetsFirst.gov program, which emphasizes the value of hiring veterans and helps employers find qualified veterans to fill positions.

For those veterans wishing to return to their pre-military employers, the Department of Labor protects their re-employment rights under the Uniformed Services Employment and Reemployment Rights Act, known as USERRA. New regulations were released in late 2005 to clarify for veterans and employers their rights and obligations under the law.

U.S. Labor Department (DOL) releases are accessible on the Internet at http://www.dol.gov/. The information in this news release will be made available in alternate format upon request (large print, Braille, audio tape or disc) from the COAST office. Please specify which news release when placing your request. Call (202) 693-7828 or TTY (202) 693-7755. DOL is committed to providing America’s employers and employees with easy access to understandable information on how to comply with its laws and regulations. For more information, visit http://www.dol.gov/compliance.

Source: U.S. Department of Labor

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