Unemployment for veterans at lowest level in 7 years

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DENVER, CO - NOVEMBER 03: A homeless U.S. military veteran stands in line for free winter clothing at a "Stand Down" event hosted by the Department of Veterans Affairs on November 3, 2011 in Denver, Colorado. A week ahead of Veterans Day, more than 500 homeless veterans were expected to attend the event, where they received free medical care, clothes, employment assistance and were able to see a judge to resolve legal issues. Organizers say the homeless veterans population has surged in recent years with the high national unemployment rate. Stand Down is a military term that means a temporary stop of offensive military action. (Photo by John Moore/Getty Images)

DENVER, CO - NOVEMBER 03: A homeless U.S. military veteran stands in line for free winter clothing at a "Stand Down" event hosted by the Department of Veterans Affairs on November 3, 2011 in Denver, Colorado. A week ahead of Veterans Day, more than 500 homeless veterans were expected to attend the event, where they received free medical care, clothes, employment assistance and were able to see a judge to resolve legal issues. Organizers say the homeless veterans population has surged in recent years with the high national unemployment rate. Stand Down is a military term that means a temporary stop of offensive military action. (Photo by John Moore/Getty Images)

By Angela Johnson

The unemployment rate for veterans has dropped to its lowest level in seven years, thanks to an all-hands-on-deck push by government and corporate America to hire veterans.

According to the most recent data from the Bureau of Labor Statistics (BLS), the jobless rate for veterans — a population of nearly 20 million— dropped to 3.9 percent in October, down from 4.3 percent a month earlier and 4.5 percent a year ago. This is its lowest level in seven years.

This rate outpaces the national unemployment rate, which currently sits at 5 percent. In fact, according to the Department of Labor, veteran unemployment has remained lower than non-veteran unemployment for 23 consecutive weeks.

To assist veterans in reentering civilian life and finding employment,President Barack Obama signed an executive order in 2009, called the Veteran’s Employment Initiative, instructing federal agencies to focus on the recruitment and hiring of veterans for government jobs. By 2014, the federal government had hired more than 250,000 veterans.

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