Veterans jobless rates drop to historic lows

jobless rates drop

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By Leo Shane III

The unemployment rate for veterans dropped to a seven-year low in August, and the rate for Iraq and Afghanistan war-era veterans fell to the lowest level since federal officials started tracking that population.

The news came the same day that Bureau of Labor Statistics officials announced the national unemployment rate in August had dropped to its lowest level since 2008, before President Obama took office.

Analysts have cautioned against making long-term assumptions based on the monthly figures, but the veterans and national rates for August continue a steady downward trend in the unemployment estimates over the past two years.

BLS officials said the unemployment rate for all veterans fell to 4.2 percent in August, a drop from 4.7 percent a month earlier and from 5.6 percent a year ago. The monthly mark hasn’t been that low since May 2008.

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