The job market has never been stronger for the youngest generation of veterans.
The unemployment rate for post-9/11 veterans dropped to a record low of 1.7 percent in April, down significantly from March’s figure of 3.1 percent, according to the most recent Bureau of Labor Statistics employment data.
For context, the previous low for post-9/11 veterans unemployment, a metric that dates back to 2006, was 3.0 percent, recorded in July 2018.
It’s worth noting that unemployment rates are volatile and prone to large swings month-to-month, particularly veteran unemployment rates, which are based on small sample sizes. Experts advise analyzing multi-month trends rather than focusing on the data for individual months.
The April unemployment rate was also in record low territory for the overall veteran population. The 2.3 percent rate charted in April is a low that hasn’t been seen since May 2000. This year is shaping up to be the best year for veteran unemployment since 2000 if the numbers for the first third of the year hold steady.
For comparison, nonveterans 18 years and older also enjoyed a historically low unemployment rate of 3.3 percent, a significant decrease from March’s 3.9 percent tally but still well above the rates for veterans.
In addition to April being a great employment month for veterans, the U.S. added 263,000 jobs and the overall unemployment rate decreased from March’s 3.8 percent to 3.6 percent. The fields that saw the most notable increases in jobs were construction, healthcare, social assistance and business services.