BLS Report: Veterans Outperform Civilians in Jobs Amid Economic Slowdown

In August, veterans maintained low unemployment rates, despite indications of a decelerating U.S. economy, as revealed by fresh federal data published on Friday.

The Bureau of Labor Statistics (BLS) has announced that the overall unemployment rate for veterans was recorded at 3.0% last month, showing little change from July, while post-9/11 veterans experienced a jobless rate of 3.1%. The national unemployment rate has increased slightly, now standing at 4.3%, marking the highest level since October 2021.

The ongoing stability in veteran employment highlights a trend that has been evident since the Biden administration, demonstrating how veterans have consistently outperformed their civilian counterparts in the job market. 

In June, the unemployment rate for veterans stood at 3.7%, while the post-9/11 cohort recorded a rate of 3.8%.

The overall job growth figures were concerning, overshadowing the encouraging update for veterans. 

In August, the economy added just 22,000 jobs, significantly underperforming analysts' predictions of around 75,000. The latest findings revealed that manufacturing positions, a focus of President Donald Trump’s economic strategy, have decreased for the fourth consecutive month, resulting in a total of 78,000 job losses this year.

Additional industries encountered challenges as well. While there were increases in employment within the healthcare sector, these were counterbalanced by reductions in federal government roles, along with declines in the mining, quarrying, and oil and gas extraction industries. 

Looking at the longer-term trends, the economy added an average of only 35,000 jobs over the three months ending in July, which was a sharp decline from the roughly 196,000 average over the previous three months.

"The jobs market is going from frozen to cracking," said Heather Long, Navy Federal Credit Union's chief economist. "A growing number of industries are reducing their workforces. This downturn is impacting both manual labor and professional jobs. Long noted that, despite the slowdown, federal and state law enforcement agencies continue to recruit veterans actively. 

The Wounded Warrior Project's Warriors to Work program's regional director, Kevin Rasch, emphasized that employers see clear benefits in hiring veterans.

“It’s still a good news story for veterans despite all the turmoil,” Rasch, a retired Navy commander, said.

The jobs report arrives during a period of political strain. Trump did not comment directly on the most recent statistics after he dismissed BLS Commissioner Erika McEntarfer last month, alleging that the agency had published “rigged” figures. He expressed discontent with Federal Reserve Chairman Jerome Powell for delaying interest rate cuts, arguing that elevated borrowing costs are severely impacting the housing market.

The Federal Reserve is set to hold its next policy meeting on Sept. 16, amid increasing speculation about a possible rate cut.

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