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UNEMPLOYMENT RATE FOR YOUNG VETERANS DROPS --

"It is encouraging to see this significant drop in the

unemployment rate of young veterans."

 

 

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Unemployment Rate for Young Veterans Drops

U.S. Labor Department Reports Largest Improvement in more than a Decade

WASHINGTON, /PRNewswire-USNewswire/ -- The unemployment rate for veterans ages 20-24 fell to 10.4 percent in 2006 from 15.6 percent in the previous year, 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.

"It is encouraging to see this significant drop in the unemployment rate of young veterans," said Secretary of Labor Elaine L. Chao. "Helping America's servicemen and women successfully transition to civilian jobs when they leave the Armed Forces is a top priority of this department and these latest numbers show that progress is being made."

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 the past several years, we have stepped up our efforts to meet the needs of transitioning service members and protect their employment rights," stated Charles Ciccolella, assistant secretary of labor for Veterans' Employment and Training. "We are heartened by the improved employment outcomes last year. We also continue to reach out to employers through the HireVetsFirst.gov campaign, to emphasize the values veterans bring to their businesses, and help them recruit veterans."

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 .

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Larry Scott

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