Why Is Veteran Unemployment So High

摘要

The Great Recession, which took place from December 2007 to June 2009, precipitated one of the greatest sustained increases in unemployment in U.S. history. According to official statistics published by the Bureau of Labor Statistics (BLS), the seasonally adjusted unemployment rate exceeded 8 percent between February 2009 and August 2012 (see Figure 1.1). As of December 2012, the U.S. Federal Reserve projected the unemployment rate would remain above 7 percent through 2013 (U.S. Federal Reserve, 2012). The public has long been concerned about the transition of military service members into the civilian labor market following a period of active-duty military service in either the active or reserve components. With above-average numbers of service members likely to enter a relatively weak civilian labor market in 2013 as a result of a reduction of troop levels in Iraq and Afghanistan, a likely drawdown in the active component, and very high unemployment among The Great Recession, which took place from December 2007 to June 2009, precipitated one of the greatest sustained increases in unemployment in U.S. history. According to official statistics published by the Bureau of Labor Statistics (BLS), the seasonally adjusted unemployment rate exceeded 8 percent between February 2009 and August 2012 (see Figure 1.1). As of December 2012, the U.S. Federal Reserve projected the unemployment rate would remain above 7 percent through 2013 (U.S. Federal Reserve, 2012). The public has long been concerned about the transition of military service members into the civilian labor market following a period of active-duty military service in either the active or reserve components. With above-average numbers of service members likely to enter a relatively weak civilian labor market in 2013 as a result of a reduction of troop levels in Iraq and Afghanistan, a likely drawdown in the active component, and very high unemployment among The Great Recession, which took place from December 2007.