The Institute for Veterans and Military Families (IVMF) has announced two new members to its advisory board with the appointments of Mark Elliott, global head of military and veterans affairs for JPMorgan Chase—IVMF’s founding partner—and Ken Fisher, co-managing partner of…
IVMF Report Cites Decrease in Unemployment Rates for All Vets and Post-9/11 Generation for 2012
The Institute for Veterans and Military Families at Syracuse University (IVMF) released its Annual Employment Situation of Veterans for 2012. This report details and deconstructs the employment situation of veterans based on data from the Bureau of Labor Statistics (BLS) annual employment report for the year 2012.
The annual report also presents trend analysis based on the national employment situation of both veterans and non-veterans for the period 2000 through 2012. Data from the report comes from Current Population Survey (CPS) annual averages published by the BLS.
Overall, the 2012 unemployment rate for veterans was 7 percent. This level represents a decrease in the unemployment rate from 2011, which stood at 8.3 percent. The unemployment rate for Gulf War era II (post-9/11) veterans for 2012 was 9.9 percent, a decrease from 12.1 percent in 2011. While Gulf War era II veterans between the ages of 20-24 still maintain the highest rate of unemployment at 20.6 percent, the 2012 rate demonstrates a 9.3 percent decrease from 2011, which stood at 29.9 percent. The unemployment rate of Gulf War era II veterans ages 20-24 continues to compare unfavorably to that of their non-veteran counterparts (ages 20-24), which stands at 13.2 percent for 2012.
The IVMF also conducted trend analysis focused on the changing employment situation of both veterans and non-veterans from 2000-2012, and for Gulf War era II veterans from 2008-2012. Over this time period, the unemployment rate of Gulf War era II veterans has remained higher as compared to both non-Gulf War era II veterans and non-veterans.
Female Gulf War era II veterans have experienced the highest unemployment rates during this five-year period: the average unemployment rate for female veterans was 11.1 percent, as compared to 7.1 percent for female non-veterans. For 2012, veterans ages 20-24 are unemployed at a rate 13 percent higher than their non-veteran, age group counterparts. While this employment gap between the country’s youngest veterans and their non-veteran, age group counterparts decreased from 2011 levels (21.2 percent), it remains significantly higher as compared to pre-2004 levels.
In addition to its annual employment reports, the IVMF issues a fact sheet on the first Friday of each month representing the current snapshot of the month-to-month change in the employment situation of America’s veterans. This report both summarizes and deconstructs data released monthly by the BLS. An archive can be found on the IVMF website. The monthly reports additionally describe innovative and new veteran employment initiatives in the private and public sectors.
Those interested in subscribing to monthly and annual employment situation reports may do so by sending an email to email@example.com. Questions or media inquiries about the IVMF’s 2012 annual employment report may be directed to Jaime Winne Alvarez, director of communications, at 315-443-0177 or firstname.lastname@example.org.