Jobless rate for veterans plunges
Source: CNN
NEW YORK (CNNMoney) -- More veterans are coming back from war and getting back to work in the civilian job force, thanks to efforts by both employers and the government, as well as the improving economy.
The jobless rate for Iraq and Afghanistan veterans has fallen to 7.6%, well below the overall U.S. unemployment rate of 8.3%, and nearly five percentage points below the 12.5% rate for veterans a year ago.
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Some firms have formal military recruiting programs, and others are creating or expanding them. This week Disney (DIS, Fortune 500) announced "Heroes Work Here," a program it says will recruit 1,000 vets over the next three years.
The government wants to encourage more efforts like this. "This past year saw the passage of a number of bills specifically designed to support veteran hiring and training," said Adriana Kugler, chief economist for the U.S. Department of Labor, which produces the BLS statistics.
Kugler cites the Returning Heroes and Wounded Warriors tax credits, both of which went into effect in November.
Returning Heroes provides a credit of up to $2,400 to employers who hire a vet who's been unemployed for at least four weeks. It was expanded to give $5,600 to employers who hire veterans who've been jobless for over six months.
Read more: http://money.cnn.com/2012/03/15/news/economy/veterans-jobs/index.htm?iid=HP_Highlight&hpt=hp_t1
freeplessinseattle
(3,508 posts)The stress was evident on the faces of many people I saw crossing the street with their folders clutched hopefully. I hope they all found work!
may3rd
(593 posts)not minimum wage Wal-Mart greeters to say;
"Welcome to Wal-Mart" and on exiting, saying
"Thank you"
lunatica
(53,410 posts)This is a government program that's working, and it's the first time that I know of that something like this has been done. A lot of veterans, especially the disabled ones will work instead of become homeless.
The article didn't bother to mention Michelle or Jill.
Beacool
(30,250 posts)They deserve to be given a chance after all that they have sacrificed for the nation.