12/2 NVTI News Flash: VETS Monthly Employment Overview– November 2016
The Veterans' Employment & Training Service's (VETS) has released its monthly Veteran Employment Update, which is a review of data from the Bureau of Labor Statistics' monthly Economic News Release. The update includes unemployment information by veteran status, gender, and post-9/11 Era service, as well as state-by-state data and growth of industry sectors nationwide. Also included are graphs showing unemployment trends over the last 24 months.
Good News for Veterans!
In November, the veteran unemployment rate was 4.8%, which was slightly higher that the overall unemployment rate of 4.6. This demonstrates a 24-month trend with only two exceptions, December 2015 and November 2016, when veteran unemployment was higher than the overall unemployment. Additionally, the unemployment rate for veterans 18-24 years of age was 11.7%; a decrease from last month’s result of 13.5%.
A Cautionary Note on Sample Size
As we state in the document, some of these figures do not meet the Bureau of Labor Statistics' standards for publishing. This is due to the relatively small sample size of subpopulations of veterans, most notably female veterans and veterans ages 18-24. As a result of the small sample size, there is volatility in the monthly numbers. As opposed to generalizing monthly results to the overall population, BLS recommends reviewing employment trends over several months to gain a better understanding of the employment situation for veterans.
If you have any questions, you may contact Nancy Michelle Chevalier.
We hope you find this information helpful.
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