Veterans unemployment fell to 3.2% in May

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1–2 minutes

Summary

Veterans unemployment fell to 3.2% in May, while women veterans saw a sharp three-month decline in joblessness.

Why this matters

The report offers a snapshot of how veterans, including women veterans and post-9/11 veterans, are faring in the labor market. It also highlights concerns about wages, inflation, and artificial intelligence for service members moving into civilian work.

The unemployment rate for veterans fell to 3.2% in May from 3.7% in April, according to the Bureau of Labor Statistics’ monthly jobs report released Friday.

Among the nation’s 2.1 million women veterans, unemployment declined over three months, from 7.1% in March to 4.4% in April and 3.3% in May. The last time the unemployment rate for women veterans was lower than for male veterans was in January 2019, when women veterans had a 2.7% jobless rate, compared with 3.0% for men.

The Bureau of Labor Statistics cautioned that data for women veterans comes from a smaller sample than data for male veterans and may fluctuate more.

The report said total nonfarm payrolls increased by 172,000 in May, similar to April’s 179,000 gain. Leisure and hospitality added 70,000 jobs, including 48,000 in food services and bars. Health care added 35,000 jobs, and manufacturing added 7,000.

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