June 2, 2023
Veteran Unemployment Rate was 2.6% in May
In May 2023, the veteran unemployment rate was 2.6%, up from 2.2% the previous month and down from 2.9% the prior year.
Also in May 2023, the comparable non-veteran unemployment rate was 3.6%, up from 3.4% the previous month and unchanged from the prior year. The unemployment rates are seasonally adjusted and for individuals aged 18 years and over in the civilian non-institutional population.
View the full report:
Veteran Seasonally Adjusted Unemployment Rates
Seasonally and Non-Seasonally Adjusted Data
Historically, we have referenced the non-seasonally adjusted unemployment rate for veterans. However, beginning July 2019, the Bureau of Labor Statistics began publishing the seasonally adjusted veteran unemployment rate. This adjustment accounts for any predictable seasonal patterns in the data and allows for better month-to-month comparisons; we will utilize this data series going forward.
The full seasonally adjusted veteran unemployment rate series going back to 2003 is available here: Veteran Seasonally Adjusted Unemployment Rates. If you are interested in the non-seasonally adjusted data, that is still available here: Non-Seasonally Adjusted Data.
Annual Employment Situation of Veterans – 2022
In 2022, there were 18.37 million veterans in the civilian non-institutional population 18 years and over. Of those veterans, 8.81 million were in the civilian labor force and 8.56 million were employed. The annual average unemployment rate was 2.8% in 2022 for veteran, down from 4.4% the prior year.