The US veterans jobless rate saw a big jump as summer began

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US Veterans unemployment rose sharply in June even amid encouraging news for the rest of the country’s job market, according to data released by the Bureau of Labor Statistics on Friday.

The jobless rate for all American veterans last month was 4.8 percent, up from 4.1 percent the previous month. Similarly, the rate for veterans who served during the Iraq and Afghanistan wars era rose from 4.0 percent in May to 5.2 percent in June.

Nationally, payroll employment grew by 850,000 jobs last month, but the country’s unemployment rate also saw a slight increase from May to June, from 5.8 percent to 5.9 percent.

Economic experts have warned that month-to-month unemployment figures can fluctuate based on sampling sizes. Even with the increase, the June unemployment numbers for veterans remain below the national rate and represent the second-best monthly estimate since the start of the pandemic 15 months ago.

The 4.8 percent figure translates into about 440,000 veterans across America looking for work last month. That number was more than 775,000 in June 2020.

About two of every five veterans working today served during the Iraq and Afghanistan wars era., BLS officials said.

Last month, Veterans Affairs Secretary Denis McDonough said his department is focused on expanding current veterans jobs assistance programs rather than pushing for new initiatives to help unemployed veterans.(continue reading)

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